Business, 01.11.2019 03:31 meliac

Several years ago and just prior to retirement, mr. smith purchased 500 shares of abc. at the time of purchase, abc was trading at $45 per share. the price increased over the past few years and was at $60 per share when the rr for mr. smith's account learned that mr. smith had passed away in an automobile accident. mr. smith's will indicated that the shares should be handed over to mr. smith's adult daughter, jane. this took place promptly after mr. smith's death and jane decided to sell the shares several months later when the price had appreciated again to $65 per share. for taxation purposes, what is jane's cost basis on these shares? [a] since jane did not pay for the shares, there is no cost basis for her at the time of the sale.[b] jane's cost basis would be the same as her father's, $45 per share.[c] jane's cost basis would be the price at the time the shares were transferred, $60 per share.[d] jane's cost basis would be the price at the time of sale, $65 per share.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:20

Jimmy owns an ice cream parlor. he designs a schedule for the different tasks the employees have to perform in order to prevent monotony at work. according to the schedule, if an employee makes waffle cones on a day, he serves ice creams the next day and clears the tables on the day after that. jimmy is using the approach at his ice cream parlor.

Answers: 2

Answer

Business, 22.06.2019 10:30

The card shoppe needs to maintain 21 percent of its sales in net working capital. currently, the store is considering a four-year project that will increase sales from its current level of $349,000 to $408,000 the first year and to $414,000 a year for the following three years of the project. what amount should be included in the project analysis for net working capital in year 4 of the project?

Answers: 3

Answer

Business, 22.06.2019 14:30

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Answers: 3

Answer

Business, 22.06.2019 16:00

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.

Answers: 1

Answer

You know the right answer?

Several years ago and just prior to retirement, mr. smith purchased 500 shares of abc. at the time o...

Questions