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Homework Answers
Solution:
B) if James sold 175 shares for $ 6,475.
Recognized gain/(loss)= sale price-cost price of purchase to James.
=$6475-$4550
=$1925-($5950-$4550)*
=$1925-$1400
=$525*
* Actual gain should be recognised by from previous loss adjustment to shares.
C) Similarly above-mentioned, if James sold for $5075
Actual gain/(loss) = $5075-$4550-$1400
=($875) or -$875
D) Similarly above-mentioned, if James sold 175 shares for $3850
Actual gain/(loss) = $3850-$4550-$1400
=($2100) or -$2100
C and D are incorrect in above.
in C it shoudl be 0
in D the loss is only 3850-4550=(700)
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