Question
Question: Chi has the following transactions in smoke corp. and Mirrors Corp. shares: Smoke Mirror May 1, 2020, purchases 100@ $ 22.50 100@ $ 25.00
Question: Chi has the following transactions in smoke corp. and Mirrors Corp. shares:
Smoke Mirror
May 1, 2020, purchases 100@ $ 22.50 100@ $ 25.00
December 20, 2020, sale 100@ $ 28.00 100@ $ 24.00
January 3, 2021, purchase N/A 100 @ $23.20
June 1, 2021, sale N/A 100@ $ 26.00
Chis taxable capital gains for 2020 and 2021 are:
a. $225 for 2020, $90 for 2021
b. $225 for 2020, $140 for 2021
c. $275 for 2020, $90 for 2021
d. $275 for 2020, $140 for 2021
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Financial Accounting
Authors: Pauline Weetman
8th Edition
129224447X, 9781292244471
