Mr. Smith, a single taxpayer, died in Year 4. His Year 4 taxable income of $40,000 included the following stock transactions: Adjusted Selling Stock Purchased Sold Basis Price Charlie 03/18/Yr 4 5/20/Yr 4 $3,000 $4,500 Edward 10/10/Yr 1 7/11/Yr 4 5,500 1,100 Diane 04/23/Yr 4 7/29/Yr 4 1,700 1,600 Meg 02/05/Yr 2 9/16/Yr 4 8,000 6,000 What is the amount of the capital loss deduction for Year 4 and the amount of the capital loss carryover to the decedent’s estate?

Shawshank real estate agency. oct. 1 pete shawshank begins business as a real estate agent with a cash investment of $25,000 in exchange for common stock. 2 hires an administrative assistant. 3 purchases office furniture for $2,900, by paying $700 cash with the balance on account. 6 sells a house and lot for n. kidman, earning a fee of $3,600, with $600 collected in cash and the balance billed to n. kidman. 27 pays $900 on the balance related to the transaction of october 3. 30 pays the administrative assistant $2,300 in salary for october. 31 collects $1,200 of the balance owed by n. kidman. instructions: (a) journalize the transactions. (you may omit explanations.) (b) what balance would shawshank real estate agency report for accounts payable in its october 31 financial statements? in which category of which financial statements would it be found? (c) what balance would shawshank real estate agency report for accounts receivable in its october 31 financial statements? in which category of which financial statements would it be found?