Juan owned 200 shares of Circle Corporation stock (adjusted basis of $30,000). He sold 100 shares for $12,000. Twenty days later he purchased 100 shares of the same stock for $8,500. What is Juan's realized and recognized loss? What is his basis in the newly acquired shares? If an amount is zero, enter "0". Juan records a realized loss of $_____ of which $_____ is recognized. His basis in the newly acquired stock is $__

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Juan owned 200 shares of Circle Corporation stock (adjusted basis of $30,000). He sold 100 shares for $12,000. Twenty days later he purchased 100 shares of the same stock for $8,500. What is Juan's realized and recognized loss? What is his basis in the newly acquired shares?

If an amount is zero, enter "0".

Juan records a realized loss of $_____ of which $_____ is recognized. His basis in the newly acquired stock is $_____.

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