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An investor purchased 478 shares of common stock, $25 par, for $19,598. Subsequently, 97 shares were sold for $31 per share. What is the amount of gain or loss on the sale? Oa. $970 loss Ob. $970 gain Oc. $1,552 loss Od. $1,552 gain

An investor purchased 478 shares of common stock, $25 par, for $19,598. Subsequently, 97 shares were sold for $31 per share. What is the amount of gain or loss on the sale? Oa. $970 loss Ob. $970 gain Oc. $1,552 loss Od. $1,552 gain

FINANCIAL ACCOUNTING
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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IT 7 G B Q Search 8 TouTube M An investor purchased 478 shares of common stock, $25 par, for $19,598. Subsequently, 97 shares were sold for $31 per share. What is the amount of gain or loss on the sale? Oa. $970 loss Ob. $970 gain Oc. $1,552 loss Od. $1,552 gain All work saved. HJ K Maps hp City-Data.com - Sta.... PMLA Formatting an.... 99- General Format//P.... 19.561 Previous ENG INTL Next 214 InterpreterDetails.pdf Submit Test for Grading de be 32.000- 75,540 = 2,460 M 82,000 x 117 x 0.5% = 4,510 2,460 /20 - = 123 9,510 + 123 = 4633 x 2 = 2:49 PM V/5/2021 O
Transcribed Image Text:IT 7 G B Q Search 8 TouTube M An investor purchased 478 shares of common stock, $25 par, for $19,598. Subsequently, 97 shares were sold for $31 per share. What is the amount of gain or loss on the sale? Oa. $970 loss Ob. $970 gain Oc. $1,552 loss Od. $1,552 gain All work saved. HJ K Maps hp City-Data.com - Sta.... PMLA Formatting an.... 99- General Format//P.... 19.561 Previous ENG INTL Next 214 InterpreterDetails.pdf Submit Test for Grading de be 32.000- 75,540 = 2,460 M 82,000 x 117 x 0.5% = 4,510 2,460 /20 - = 123 9,510 + 123 = 4633 x 2 = 2:49 PM V/5/2021 O
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