Suzanne acquired the following ordinary shares in Quarine plc: She made no further acquisitions and the shares
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Suzanne acquired the following ordinary shares in Quarine plc:
She made no further acquisitions and the shares were valued at £3.20 each on 31 March 1982. On 24 July 2020, Suzanne sold 1,200 shares for £7 per share. Compute the chargeable gain or allowable loss arising on this disposal.
Transcribed Image Text:
Date 2 October 1979 10 January 1981 5 December 2004 8 November 2012 24 July 2020 10 August 2020 20 August 2020 31 August 2020 No of shares 200 150 400 250 300 400 350 500 Cost 600 500 1,420 1,160 1,400 2,500 2,600 2,400
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To compute the chargeable gain or allowable loss on the disposal of shares we need to follow a set of steps to determine the cost basis of the shares ...View the full answer
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