An investor purchased 505 shares of common stock, $23 par, for $19,190. Subsequently, 106 shares were sold for $27 per share. What is the amount of gain or loss on the sale? a.$1,166 gain b.$1,590 gain c.$1,590 loss d.$1,166 loss
An investor purchased 505 shares of common stock, $23 par, for $19,190. Subsequently, 106 shares were sold for $27 per share. What is the amount of gain or loss on the sale? a.$1,166 gain b.$1,590 gain c.$1,590 loss d.$1,166 loss
Chapter7: Stocks (equity) - Characterstics And Valuation
Section: Chapter Questions
Problem 2PROB
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An investor purchased 505 shares of common stock, $23 par, for $19,190. Subsequently, 106 shares were sold for $27 per share. What is the amount of gain or loss on the sale?
a.$1,166 gain
b.$1,590 gain
c.$1,590 loss
d.$1,166 loss
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