contestada

During 2019, Tom sold Sears stock for $10,000. The stock was purchased 4 years ago for $13,000. Tom also sold Ford Motor Company bonds for $35,000. The bonds were purchased 2 months ago for $30,000. Home Depot stock, purchased 2 years ago for $1,000, was sold by Tom for $2,500. Calculate Tom’s net gain or loss, and indicate the nature of the gain or loss.?

Respuesta :

Answer:

$3,500 ST gain

Explanation:

calculation are as follows:  

Sears stock: 10,000 - 13,000 = 3,000 LG loss  

Home Depot stock: 2,500 - 1,000 = 1,500 Long Term gain

Ford Motor company bonds: 35,000 - 30,000 = 5,000 Short Term gain

Thus, Tom has gain and the nature of gain is short term and the net gain is $3500.  

Otras preguntas