а. What is Phil and Susan's AGI? Item Date Acquired Date Sold Cost Sales Price Blue stock (10 shares) 11/10/17 03/12/18 $ 3,000 $ 6,000 Purple stock (100 shares) 12/13/16 05/23/18 36,000 32,000 Beige stock (50 shares) 12/14/13 07/14/18 13,000 14,500 Red stock (100 shares) 06/29/17 05/18/18 26,000 27,000 Black stock (100 shares) 05/15/17 10/18/18 67,000 67,800 Gray stock (100 shares) 04/23/16 10/18/18 89,000 88,200 Complete a Form 8949 for the Hammonds (Phil's Social Security number is 123-45-6789). Assume that the stock sale information was reported to the Hammonds on a Form 1099-B and that basis information was provided to the IRS. b.

а. What is Phil and Susan's AGI? Item Date Acquired Date Sold Cost Sales Price Blue stock (10 shares) 11/10/17 03/12/18 $ 3,000 $ 6,000 Purple stock (100 shares) 12/13/16 05/23/18 36,000 32,000 Beige stock (50 shares) 12/14/13 07/14/18 13,000 14,500 Red stock (100 shares) 06/29/17 05/18/18 26,000 27,000 Black stock (100 shares) 05/15/17 10/18/18 67,000 67,800 Gray stock (100 shares) 04/23/16 10/18/18 89,000 88,200 Complete a Form 8949 for the Hammonds (Phil's Social Security number is 123-45-6789). Assume that the stock sale information was reported to the Hammonds on a Form 1099-B and that basis information was provided to the IRS. b.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
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Help Save & Exit ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252... 3-RA1 - Princi x M Question 2 - CV 12.5 - Conne x + Fube Maps Translate News 2.5 i 2 Required information Saved t2 of 3 ts Knowledge Check 01 J. Morgan and M. Halsted are partners who share income and loss in a 3:1 ratio. After several unprofitable periods, the two partners decided to liquidate their partnership. The current period's income or loss is closed to the partners' capital accounts according to the sharing agreement. Immediately before liquidation, the partnership balance sheet shows: land, $100,000; accounts payable, $80,000; J. Morgan, Capital, $15,000; and M. Halsted, Capital, $5,000. On January 15, the land was sold for $110,000 cash. On January 16, the partnership settled its liabilities. On January 31, the remaining cash was distributed to the partners. Prepare the January 15 journal entry for the partnership to…