Pekoe sold stock to rose for $12,000, its fair market value. the stock cost pekoe $16,000 5 years ago. also, pekoe sold earl (an unrelated party) stock for $6,500 that cost $8,500 3 years ago. rose and pekoe are brother and sister. what is pekoe's recognized loss?
a. $6,500
b. $2,000
c. $1,000
d. $3,000
e. $4,000
Answers: 3
Business, 21.06.2019 21:40
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Business, 23.06.2019 02:30
The accountant at bramble corp. has determined that income before income taxes amounted to $10800 using the fifo costing assumption. if the income tax rate is 30% and the amount of income taxes paid would be $900 greater if the lifo assumption were used, what would be the amount of income before taxes under the lifo assumption?
Answers: 2
Pekoe sold stock to rose for $12,000, its fair market value. the stock cost pekoe $16,000 5 years ag...
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