1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yanalaym [24]
2 years ago
9

Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,100 on January 15, 2018. On December 31, 2020, she sold all 1,000

shares of her Ibis stock for $4,550. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,025. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021?a. $0 LTCL and $4,850 basis.b. $560 LTCL and $4,290 basis.c. $840 LTCL and $4,010 basis.d. $1,120 LTCL and $3,730 basis.e. $1,400 LTCL and $3,450 basis.
Business
1 answer:
lyudmila [28]2 years ago
4 0

Answer:

LTCL = $0

Basis = $3,575

Explanation:

January 15, 2018, buy 1,000 shares at $5,100

December 31, 2020, sold 1,000 shares at $4,550

If Ms. Fresh hadn't repurchased the stock in January, she could have reported a long term capital loss of $550. But since she repurchased the 1,000 shares just after selling them, it is considered a wash sale.

So no long term capital loss will be recognized and the basis of the 1,000 stocks = $3,025 + $550 = $3,575

You might be interested in
What is the rationale for the internal control principle, segregation of duties? select one:
liq [111]
The rationale for internal control principle, segregation of duties is that the work of one employee should, without duplication of effort, provide a reliable basis for evaluating the work of another employee. Segregation of Duties is a basic building block of sustainable risk management and internal controls for business. It is based on shared responsibilities of a key process that disperses the critical functions of that process to more than one person or department.
5 0
2 years ago
Consider an overlapping generation set up with pay-as-you-go social security system in a hypothetical economy. There are 100 old
Mandarinka [93]

Answer:

a) 3%

b) the new workers contribute 16,068 dollars

c)$160.68 each

d) the old workers contribute 15,000 when they made his contribution

e) rate of return 7.12%

Explanation:

growth rate: the increase in the workforce:

103 new workers / 100 retired - 1 = 0.03 = 3%

103 workers x 1,040 each x 15% = 16,068

assuming no other employee:

$16,068 pension fund / 100 retired persons = 160.68 dollars each

100 workers x 1,000 each x 15% = 15,000

e) the old retire contribute:

1,000 x 15% =  150

they receive 160.68

rate of return:

160.68 / 150 - 1 = <em>0.0712</em>

5 0
2 years ago
Some companies secure from a firm that makes investments in promising new startups for a percentage of their profits.
allsm [11]
Venture capital. It’s where capitalism comes in homie
4 0
2 years ago
Read 2 more answers
In the new product development process, new product is introduced to the market during the ________ stage.
prohojiy [21]

Answer:

Introduction

Explanation:

The product is new in the market, sales are slow and to push it higher the company has to incur heavy expenditure on advertisement to make it appealing to customers. So products are introduced during the Introduction Stage.

5 0
2 years ago
Given the presence of smartphones and tablets everywhere and​ marketers' ability to personalize messages based on​ ________ and
Sidana [21]
Smartphones and tablets are one of the many products of technology which highlights connectivity and individuality. This leads markets to personalize these gadgets as to attract and appeal more and more consumers and buyers to gain higher share among its competitors.
8 0
3 years ago
Other questions:
  • Net income for the year was $161,511. The beginning net position balances are net investment in capital assets, $585,400; restri
    11·1 answer
  • A ______ is a firm that produces the entire market supply of a particular good or service
    11·1 answer
  • Darl is in charge of facilities management at his company. He also believes in helping the environment. He knows the company can
    15·1 answer
  • Sheffield Company had an investment which cost $250000 and had a salvage value at the end of its useful life of zero. If Mussina
    9·1 answer
  • The federal government is concerned about obesity in the United States. Congress is considering two plans. One will ban the prod
    9·1 answer
  • What is the office of management and budget primarily responsible for?
    14·1 answer
  • In the welding operations of a bicycle manufacturer, a bike frame has a flow time of about 11.5 hours. The time in the welding o
    12·1 answer
  • Accounts receivable arising from sales to customers amounted to $80,000 and $65,000 at the beginning and end of the year respect
    14·1 answer
  • Josh is a technological expert whose work with advanced broadband systems has made him one of the most high-profile figures at T
    10·1 answer
  • Allowing third-party sellers to list their products on Amazon is controversial. Why would Amazon allow products sold by others t
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!