Question
Indie sold the following securities during 2019: Date Acquired Date Sold Sales Price Basis A 6-30-2014 4-30-2019 $ 8,000 $12,000 B 7-12-2019 11-1-2019 $ 2,500
Indie sold the following securities during 2019:
| Date Acquired | Date Sold | Sales Price | Basis |
A | 6-30-2014 | 4-30-2019 | $ 8,000 | $12,000 |
B | 7-12-2019 | 11-1-2019 | $ 2,500 | $ 5,000 |
C | 8-20-2018 | 5-16-2019 | $20,000 | $15,000 |
D | 7-11-2015 | 8-31-2019 | $57,500 | $50,000 |
What is Indie’s adjusted net capital gain or loss result for the year?
A) $0
B) $6,000 ANCG
C) $13,000) ANCG
D) ($13,000) ANCL
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
