answer in detail Martin and Sons, Landscaping purchased shares of BCD stock at three different times:100 shares for $4,300 on February 1, 2018.300 shares for $6,900 on May 15, 2019.200 shares for $10,000 on January 30, 2020.On June 1, 2021, they sold 265 shares and received gross proceeds of $13,010. If they wanted to reduce the capital gain as much as possible, which shares would they havehad to specifically identify at the time of sale?O 65 shares purchased in 2018 and 200 shares purchased in 2019.O265 shares purchased in 201965 shares purchased in 2019 and 200 shares purchased in 2020,65 shares purchased in 2018 and 200 shares purchased in 2020.

Working Note - 1 : Computation of purchase price per share Year No of share purchased Total…

Answered: Martin and Sons, Landscaping purchased…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 14RE

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Otter Tail, Inc., began operations in January 2015 and had the following reported net income or loss for each of its 5 years of operations: At December 31, 2019, Otter Tails capital stock was comprised of the following: Otter Tail has never paid a cash or stock dividend. There has been no change in the capital accounts since Otter Tail began operations. The appropriate state law permits dividends only from retained earnings. Required: Prepare a worksheet showing the maximum amount available for cash dividends on December 31, 2019, and how it would be distributable to the holders of the common shares and each of the preferred shares. Show supporting computations in good form.
Please show the proper solution in a good accounting form.
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