Carlo, not a dealer in securities, had the following transactions on ordinary shares of JJ Co. (a domestic corporation) for 2021 taxable year: Jan. Purchase 100 shares P100,000 12 June Sold the shares purchased 80,000 20 on Jan. 12 June Purchased 70 shares 50,000 30 Oct. Sold the shares purchase 75,000 15 on June 30 How much was the capital gain on sale of shares on October 15?

Carlo, not a dealer in securities, had the following transactions on ordinary shares of JJ Co. (a domestic corporation) for 2021 taxable year: Jan. Purchase 100 shares P100,000 12 June Sold the shares purchased 80,000 20 on Jan. 12 June Purchased 70 shares 50,000 30 Oct. Sold the shares purchase 75,000 15 on June 30 How much was the capital gain on sale of shares on October 15?

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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