B1. In February 2019, Sierra paid $4500 to acquire 150 shares 150 shares of CGL stock. In December 2021, CGL declared a two-for-one stock split. If there were no subsequent adjustments, what is Sierra's current basis in the stock, and how many shares does she own? A. $2250 basis; 150 shares. B. $4500 basis; 300 shares. C. $9000 basis; 150 shares.

B1. In February 2019, Sierra paid $4500 to acquire 150 shares 150 shares of CGL stock. In December 2021, CGL declared a two-for-one stock split. If there were no subsequent adjustments, what is Sierra's current basis in the stock, and how many shares does she own? A. $2250 basis; 150 shares. B. $4500 basis; 300 shares. C. $9000 basis; 150 shares.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges

Section: Chapter Questions

Problem 14DQ

See similar textbooks

Similar questions

In February 2019, Sierra paid $4,500 to acquire 150 shares of CGL stock. In December 2021, CGL declared a two-for-one stock split. If there were no subsequent adjustments, what is Sierra's current basis in the stock, and how many shares does she own? $2,250 basis; 150 shares. $2,250 basis; 300 shares. $4,500 basis; 300 shares. $9,000 basis; 150 shares.
On February 15, 2021, Harriett sold 500 shares of QRS Corporation short on the NYSE. Four days later, QRS declared a cash dividend of $.10 per share payable 55 days later to shareholders of record on March 1, 2021. Who will receive the cash dividend on this stock? Group of answer choices Harriett must pay the cash dividend to the investor who acquired the shares from her that she sold short Harriett's broker will be entitled to the cash dividend as part of its profit in selling the stock short Harriett must pay the cash dividend to the investor who loaned the shares to her that she sold short QRS gets to keep the cash dividend until the shares are repurchased by Harriett
Irina purchased 1000 common shares of Pacific Corporation stock at $18/share in 2013, to be held for investment. In 2019, she received a 5% nontaxable common stock dividend when the shares were worth $15/share. What is the per share basis of Irina's Pacific Corporation stock? Group of answer choices 17.86 18.00 17.14 15.00
On October 30, 2019, Tess bought 500 shares of ACTS stock for ₱ 640.00 per share. OnNovember 15, 2020, ACTS paid a ₱ 620.00 dividend per share, and on January 15, 2021,she sold the stock for ₱ 677.80 per share. Did Tess gain or lose on the investment? Howmuch money did she gain or lose in the investment?
Hw.142.
During 2021, Sam Harris purchased 50 shares of common stock issued by Atlanta Carpet Mills for $6800 including commission. Later In the same year, Sam sold the shares for $7200 after commission. Calculate the following. (Round all answers to two decimal places.) $1 1. Profit on this stock transaction: 2. Percentage return on investment: Parentheses S
Answer the following. Thank you!
15.On January 2, 2020, Howdy Doody bought 15% of Ranger's common stock for $ 54,000. Ranger's net income as of December 31, 2020 was $ 80,000. During 2020, Ranger declared and paid dividends of $ 64,000. As of December 31, 2018, the market value of Howdy Doody-owned Ranger shares had risen to $ 69,000. How much is Howdy's total effect on net income caused by investing in Ranger for 2020? Select one: a. $ 15,000. b. $ 21,000. c. $ 24,600. d. $ 9,600.
On October 18, 2021, Kathleen executed several transactions involving the sale of shares of stock. All but one of the transactions involved the sale of covered securities. Which of these is the noncovered security? A. 100 shares of Bravo Bank, purchased on May 1, 2012. B. 133 shares of Systems Corporation, purchased on December 12, 2013. C. 400 shares of Tully Enterprises that she inherited from her father on June 15, 2019; he initially purchased the stock in 2010. D. 1,000 shares of Ironstone stock, purchased on August 1, 2017, and which were subject to a 3/2 split on June 1, 2021.
February 20, 2021: Lee Remington purchased 100 shares of Oak Corp. stock for $40 a share. April 7, 2021: Lee sold 50 shares of Oak Corp. stock for $30 a share. April 24, 2021: Lee purchased 25 shares of Oak Corp. stock for $35 a share. What is the basis of the 25 shares purchased on April 24, 2021 * Explain in Full detail.
During 2021, Tom Sanchez purchased 200 shares of common stock issued by Tri State Manufacturing for $3400 including commission. Later in the same year, Tom sold the shares for $3800 after commission. Calculate the following. (Round all answers to two decimal places.) 1. Profit on this stock transaction: Parentheses 2. Percentage return on investment: % %4
During 2022, Roberto sold 830 shares of Casual Investor Mutual fund for $8.875 per share. The shares were purchased on the following dates: Date May 31, 2018 September 18, 2019 October 21, 2019 Shares 400 Price $ 9.375 225 $ 8.500 425 $ 10.000 276 $ 7.125 January 12, 2021 Required: Calculate the gain (loss) on the sale under the following assumptions: a. Basis is calculated using the first-in, first-out method. Note: Round your intermediate computations and final answer to 2 decimal places. b. Basis is calculated using the average cost method (assume all shares are long-term). Note: Round "Average cost" to 3 decimal places. Round other intermediate computations and final answer to 2 decimal places. a b.