Question

2. Lana sold the following securities. oper Security 1. Stock #1 2. Stock #2 3. Stock #3 4. Stock #4 Date of Purchase 05/30/2011 01/17/2012 10/30/2014 08/25/2014 Date Sold 08/25/2019 09/30/2019 08/25/2019 08/28/2019 Number of Shares 200 400 100 96 actuaries, and n. It is extre e return to en tax situations The gross proceeds for stocks #1 and #3 were $8,975. The sales price per share for stocks #3 and #4 was $38 per share. Calculate the sales price of the stock purchased on 05/30/2011. a) $8,975 b) $5,175 c) $5,984 d) $3,648 Cell

Answer 1

Calaculation of Sales price of the stock purchased on 05/30/2011:

The correct option is

• b) $5175

Explanation:

Given:

Sales price(total proceeds) for stock #1 and #3 = $8975

Sales price for share of stock #3 = $38

Number of shares for stock #3 = 100 shares

Number of shares for stock #1 = 200 shares

That implies,

Sales price for stock #3

= number of shares × sales price per share

= 100 shares × $38

= $3800

NOW,

Sales price of stock #1

= Total sales price for stock #1 and #3 - Sales price for stock #3

= $8975 - $3800

= $5175

Therefore,

The sales price for stock purchased on 05/30/2011 is $5175

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