User Account

All Pages

Amount of gain or loss on the sale

Assignment Help Accounting Basics
Reference no: EM13137789

An investor purchased 500 shares of common stock, $25 par, for $21,750. Subsequently, 100 shares were sold for $47.50 per share. What is the amount of gain or loss on the sale?

a. $4,350 gain

b. $400 gain

c. $400 loss

d. $16,800 loss

Reference no: EM13137789

Questions Cloud

What are timetable identified for three of mileston : What are the timetable identified for three of the milestones on each of the projects that are being addressed by the IASB?
Nature of sexual equality and discrimination : A discussion on the nature of sexual equality and discrimination regarding social movements and the politics of difference. What is the politics of difference and what does it demand of social relations and political institutions.
Degrees farenheit is allowed to cool at a constant volume : Superheated water vapour at 180 psia and 500 degrees Farenheit is allowed to cool at a constant volume until the temperature drops to 250 degrees Farenheit. At the final state, determine
Essay question: what were the bourbon reforms? : ESSAY QUESTION: What were the Bourbon reforms? What was the goal of these reforms? How did the criollos react to the reforms?
Amount of gain or loss on the sale : An investor purchased 500 shares of common stock, $25 par, for $21,750. Subsequently, 100 shares were sold for $47.50 per share. What is the amount of gain or loss on the sale?
Identify and describe these activities : The employee worked in Starbuck's Information Technology Department. RAD Services Inc. charged Starbucks as much as $429,800 for consulting services in a single week. For such a fraud to have taken place, certain control activities were likely no..
What alternatives would you suggest to combat : what alternatives would you suggest to combat some of the difficulties that Barilla’s operations system faces?
What was the amount of raw materials used during quarter : Brittle Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the third quarter of the current year.
Amortization table for the installment note : On January 1, 2010, Zero Company obtained a $52,000, four-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, 2010. The December 31, 2012 carrying amount in the amortization table..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Manufacturing overhead costs

Explain why manufacturing overhead costs cannot be directly associated with any particular product, and how such costs are allocated to each of several company's products under the so-called traditional approach to overhead allocation.

  Does carol have any income as a result of the scholarship

Carol attends State University and received a $10,000 scholarship for her senior year that began in September, 2011. Up to the time of her graduation in May, 2012, Carol had paid the following expenses for the two semesters from her scholarship fu..

  Activity-based costing problem

The company produces two products, Gert and Mill. Gert requires 60,000 machine hours and 20,000 direct labor hours, while Mill requires 40,000 machine hours and 30,000 direct labor hours. Using activity-based costing, machining costs assigned to e..

  Company gain or loss on the sale

A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (A) What is the company's recognized gain or loss on the sale?

  Effects on the accounts and financial statements

Based on the information below, illustrate the effects on the accounts and financial statements of the Seller and the Buyer. Both use a perpetual inventory system.

  Determining corporation and partnership

Calculate the tax disadvantage to organizing a U. S. business today, after passage of the Jobs and Growth Tax Relief Reconciliation Act of 2003, as a corporation versus a partnership under the following conditions.

  Create an approach to tax research that results in credible

Using the Internet or Strayer databases, research the rules regarding the transfer of property and services to a corporation in exchange for stock. Include a review of the IRS to determine its level of interest and audits conducted related to this..

  What was the cost of raw materials

Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,200 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturi..

  Measurement of the pension obligation

Alternative methods exist for the measurement of the pension obligation (liability). Which measure requires the use of future salaries in its computation?

  Expanded accounting equation

For the following four cases, use the expanded accounting equation to compute the missing quantity.

  How might a change in credit terms extend

The consolidated cash flow from operations of Jones corporation and its subsidiary short manufacturing for 2012 decreased quite substantially from 2011 despite the fact that consolidated net income increase slightly in 2012.

  Examine the concept of financial risk

Examine the concept of financial risk by answering the following questions: (a) How does the risk of a portfolio change as the number of assets in the portfolio increases?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd