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