Question
Required information Comprehensive Problem 07-63 (LO 07-1, LO 07-2, LO 07-3, LO 07-4) (Algo) [The following information applies to the questions displayed below] During
Required information Comprehensive Problem 07-63 (LO 07-1, LO 07-2, LO 07-3, LO 07-4) (Algo) [The following information applies to the questions displayed below] During 2021, your clients, Mr. and Mrs. Howell, owned the following investment assets: Investment Assets 300 shares of IBM common 200 shares of IBM common 2,100 shares of Cisco common 3,000 shares of Apple preferred 420 shares of Vanguard mutual fund Date Acquired 11/22/2018 4/3/2019 12/12/2019 8/14/2020 3/2/2021 Purchase Price $10,360 "No commissions are charged when no-load mutual funds are bought and sold. 43,260 140,000 52,500 14,800 Broker's Commission Paid at Time of Purchase $100 300 1,300 550 No-load fund Because of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund in 2021 and to reinvest in municipal bonds. The following investment assets were sold in 2021 Broker's Commission Paid at Investment Assets 300 shares of IBM common Date Sold 5/6 Sale Price Time of Sale $13,800 $100 3,000 shares of Apple preferred 10/5 221,500 2,100 shares of Cisco common 8/15 63,260 2,000. 650 451 shares of Vanguard mutual fund 12/21 15,800 No-load fund "No commissions are charged when no-load mutual funds are bought and sold The Mountain in them Em 1000 Dhaun the sla nende nos of the cominciane aid Entourmalin
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