Sh8 b. She uses the specific identification method and she wants to minimize her current-year capital gain. Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over theyears:DatePurchased Shares7/10/20126104/20/2013 5101/29/201471011/02/2016460Basin$ 31,11028,96831,66623,092If Dahlia sells 1,430 shares of Microsoft for $101,530 on December 20, 2022, what is her capital gain or loss in each of thefollowing assumptions?Note: Do not round intermediate calculations.a. She uses the FIFO method.

Capital gains are profit earned investment and there are taxes to be paid on the profit earned on…

Purchased Shares 610 510 710 460 7/10/2012 4/20/2013 1/29/2014 11/02/2016 Bania $ 31,110 28,968 31,666 23,092 Dahlia sells 1,430 shares of Microsoft for $101,530 on December 20, 2022, what is her capital gain or loss in e. ollowing assumptions?

Purchased Shares 610 510 710 460 7/10/2012 4/20/2013 1/29/2014 11/02/2016 Bania $ 31,110 28,968 31,666 23,092 Dahlia sells 1,430 shares of Microsoft for $101,530 on December 20, 2022, what is her capital gain or loss in e. ollowing assumptions?

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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Question

Sh8

b. She uses the specific identification method and she wants to minimize her current-year capital gain.

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the
years:
Date
Purchased Shares
7/10/2012
610
4/20/2013 510
1/29/2014
710
11/02/2016
460
Basin
$ 31,110
28,968
31,666
23,092
If Dahlia sells 1,430 shares of Microsoft for $101,530 on December 20, 2022, what is her capital gain or loss in each of the
following assumptions?
Note: Do not round intermediate calculations.
a. She uses the FIFO method.

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