FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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An investor purchased 505 shares of common stock, $23 par, for $19,190. Subsequently, 106 shares were sold for $27 per share. What is the amount of gain or loss on the sale?
a.$1,166 gain
b.$1,590 gain
c.$1,590 loss
d.$1,166 loss
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