Sue has 5,000 shares of sony stock that have an adjusted basis of $27,500. she sold the 5,000 shares of stock for cash of $10,000, and she also received a piece of land as part of the proceeds. the land was valued at $20,000 and had an adjusted basis to the buyer of $12,000.what is sue's gain or loss on the sale of 5,000 shares of sony stock?

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Most states have licensing registration requirements for child care centers and family daycare homes. these usually include minimum standard for operation. which of the following would you most likely find required in a statement of state licensing standards for child care centers?

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.