[The following information applies to the questions displayed below. Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for $5,986. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
[The following information applies to the questions displayed below. Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for $5,986. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
Related questions
Question
Please do not give solution in image format thanku
![Required information
Problem 11-67 (LO 11-6) (Algo)
[The following information applies to the questions displayed below.]
Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for
$5,986.
Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
Problem 11-67 Part-c (Algo)
c. What amount of gain or loss does James recognize if he sells the stock for $5,256?
Answer is complete but not entirely correct.
Recognized gain or loss
$ (730) X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12a70b2a-1ff9-4e3b-a60f-3e24497bf33c%2F9b467c28-b537-47e7-9df4-d3e6acd96389%2Fly3gh9j_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 11-67 (LO 11-6) (Algo)
[The following information applies to the questions displayed below.]
Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for
$5,986.
Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
Problem 11-67 Part-c (Algo)
c. What amount of gain or loss does James recognize if he sells the stock for $5,256?
Answer is complete but not entirely correct.
Recognized gain or loss
$ (730) X
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