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Only Part B question thanks! Assignment Problem Eight - 1 (Identical Properties) Miss Wells has purchased the shares of two companies over the years. Each
Only Part B question thanks!
Assignment Problem Eight - 1 (Identical Properties) Miss Wells has purchased the shares of two companies over the years. Each company has only one class of shares. Purchases and sales of shares in the first of these companies, Memo Inc., are as follows: February, 2015 purchase 60 @ $24 November, 2016 purchase 90 @ 28 April, 2017 purchase 45 @ 30 October, 2017 sale (68) @ 36 September, 2019 purchase 22 @ 26 November, 2019 sale (53) @ 40 Purchases and sales of shares in the second company, Demo Ltd., are as follows: April, 2018 purchase 200 @ $24 December, 2018 purchase 160 @ 33 July, 2019 sale (260) @ 36 Required: A. Determine the cost to Miss Wells of the Memo Inc. shares that are still being held on December 31, 2019. B. Determine the taxable capital gain resulting from the July, 2019 disposition of the Demo Ltd. sharesStep by Step Solution
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