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John Simpson purchased 10 shares (cost per share 521) of Microsoft stock in its IPO on...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not reinvested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microsoft is $70.00 per share, how much capital gain or loss would John need to report if...
please show calculations. Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type...
please show calculations.
Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type of Split 2 for 1 2 for 1 3 for 2 3 for 2 2 for 1 2 for 1 2 for 1 2 for 1 What is the total number of shares John owns after the final split? 10 a) b) 170 c) 1,440 d) 2,920 5. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on...
Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal...
Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR Cash $215.6m CR [Select] D Question 3 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. September...
a. In 2017, Kevin purchased 5,000 shares of Purple Corporation stock at $6 per share. In...
a. In 2017, Kevin purchased 5,000 shares of Purple Corporation stock at $6 per share. In 2019, he receives a 5% preferred stock dividend. At the time of the stock dividend, the common stock of Purple Corporation has a fair market value of $9 and the preferred stock has a fair market value of $12 per share. Upon receipt of the preferred stock dividend: What is Kevin's per share basis in the Purple Corporation stock? How much taxable income does...
A firm currently has 200,000 shares of stock outstanding at a market price per share of...
A firm currently has 200,000 shares of stock outstanding at a market price per share of $120. Today, the firm announced a 2-for-1 stock split. What will the price per share be after the split? $240.00 $120.00 $40.00 $60.00
Required information (The following information applies to the questions displayed below.) John bought 2,050 shares of...
Required information (The following information applies to the questions displayed below.) John bought 2,050 shares of Intel stock on October 18, 2015, for $51 per share plus a $750 commission he paid to his broker. On December 12, 2019, he sells the shares for $74.00 per share. He also incurs a $1,000 fee for this transaction. a. What is John's adjusted basis in the 2,050 shares of Intel stock? Adjusted basis Required information The following information applies to the questions...
Sunny Corporation purchased 500 shares of its own stock at $10 per share on January 1,...
Sunny Corporation purchased 500 shares of its own stock at $10 per share on January 1, 20XX. On April 15th, the company sold 100 shares at $11 per share. On June 20th the company sold another 100 shares at $8 per share. Record the journal entries required. (24 points) The following table shows the equity section at the beginning of the year. Common Stock – No state value $1,000,000 Additional Paid In Capital – Common Stock 5,000,000 Retained...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and a market price of $52 a share. The balance sheet shows $46,000 in the common stock account, $515,000 in the paid in surplus account, and $530,000 in the retained earnings account. The firm just announced a 2-for-1 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 0 46,000 shares 0 23,000 shares 0 92,000 shares 0 91,500 shares...
In Year 1, Lilly purchased 100 shares of Collins stock for $18,000 ($180 per share). In...
In Year 1, Lilly purchased 100 shares of Collins stock for $18,000 ($180 per share). In Year 2, the corporation declared a 50 percent stock dividend and Lilly received 50 new shares. What was Lilly’s basis after the stock dividend?
Jane purchased 100 shares of Zodcom on March 1, 2011 for $131.52 per share. The company...
Jane purchased 100 shares of Zodcom on March 1, 2011 for $131.52 per share. The company instituted a 3:1 stock split 3 months later, and Jane then sold her shares for $49.03 per share. What was Jane's holding period return on this investment? 56.08% 10.59% 11.84% 37.28% 1 points QUESTION 2 Jane purchased 100 shares of Zodcom on March 1, 2011 for $123.81 per share. The company instituted a 3:1 stock split 7 months later, and Jane then sold...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not reinvested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microsoft is $70.00 per share, how much capital gain or loss would John need to report if...
please show calculations.
Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type of Split 2 for 1 2 for 1 3 for 2 3 for 2 2 for 1 2 for 1 2 for 1 2 for 1 What is the total number of shares John owns after the final split? 10 a) b) 170 c) 1,440 d) 2,920 5. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on...
Shopify sold 7.7m shares of no par common stock during its IPO for $28/share. The journal entry to record the sale is: DR Cash $215.6m CR [Select] D Question 3 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. September...
a. In 2017, Kevin purchased 5,000 shares of Purple Corporation stock at $6 per share. In 2019, he receives a 5% preferred stock dividend. At the time of the stock dividend, the common stock of Purple Corporation has a fair market value of $9 and the preferred stock has a fair market value of $12 per share. Upon receipt of the preferred stock dividend: What is Kevin's per share basis in the Purple Corporation stock? How much taxable income does...
Required information (The following information applies to the questions displayed below.) John bought 2,050 shares of Intel stock on October 18, 2015, for $51 per share plus a $750 commission he paid to his broker. On December 12, 2019, he sells the shares for $74.00 per share. He also incurs a $1,000 fee for this transaction. a. What is John's adjusted basis in the 2,050 shares of Intel stock? Adjusted basis Required information The following information applies to the questions...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and a market price of $52 a share. The balance sheet shows $46,000 in the common stock account, $515,000 in the paid in surplus account, and $530,000 in the retained earnings account. The firm just announced a 2-for-1 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 0 46,000 shares 0 23,000 shares 0 92,000 shares 0 91,500 shares...
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