Accounting

Security Date of Purchase Date Sold Number of Shares 1- ABC company stock 06/30/2014 01/25/2017 500 2- ABC company stock 09/15/2014 07/25/2017 800 3- ABC company stock 08/15/2016 12/18/2017 100 4- ABC company stock 01/18/2017 12/30/2017 400 The gross proceeds for stock sales #1 and #3 were $27,500. The gross proceeds for stock sales #3 and #4 were $16,300. The sales price for stock #4 was $32 per share. The sale price for #2 was $25 per share. Calculate the sale price per share for the #1 stock. a $25/share SOSSEE $48/share $32/share $55/share 50. Steve is a mechanic who had always been an employee of ABC corporation. Recently, he has decided to work as an independent contractor for the ABC corporation. Which of the following statements is incorrect as a qualification of an independent contractor? a ) Steve sets his hours and schedule Steve has an on-going working relationship with ABC corporation. Steve is responsible for having his tools or equipment. Steve usually works for more than on individual or company. 51. Ethan uses his car both for personal use and business use. If Ethan decides to deduct business use of his car, what information does he need to keep and maintain in his daily mileage in records? a) Beginning mileage and ending mileage b ) Business mileage and purpose Commuting mileage d) All of the choices are needed 52. Dave may need to file Form 4562, Depreciation and Amortization. Which of the following is listed incorrectly as a reason Form 4562 should be filed? b) a) Depreciation is claimed on property placed in service in a prior year Section 179 deduction is claimed d) Amortization of costs that began in the current year Depreciation is claimed on listed property