Question
Danny purchased 100 shares of Southern Corp. stock for $50,000 on February 1 of the prior year. On February 8 of the current year, Danny
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Danny purchased 100 shares of Southern Corp. stock for $50,000 on February 1 of the prior year. On February 8 of the current year, Danny sold 100 shares of Southern for $35,000. Ten days later, Danny purchased 100 shares of Southern for $30,000. What is the amount of Dannys recognized gain or loss?
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$5,000
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$15,000
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$0
-
$20,000
Danny purchased 100 shares of Southern Corp. stock for $50,000 on February 1 of the prior year. On February 8 of the current year, Danny sold 100 shares of Southern for $35,000. Ten days later, Danny purchased 100 shares of Southern for $30,000. What is the amount of Dannys recognized gain or loss?
-
$5,000
-
$15,000
-
$0
-
$20,000
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For Heintz/parrys College Accounting, Chapters 1-15, 22nd Edition, [instant Access]
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669886, 9781305669888
