Problem 7-46 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2023: Note: Loss amounts should be indicated by a minus sign. Stock Stock A Stock B Stock C Stock D Stock E Date Purchased 1/23/1999 4/10/2023 8/23/2021 5/19/2013 8/20/2023 Problem 7-46 Part-d (Algo) Net capital gain Basis $ 7,400 14,300 11,125 5,350 7,405 Date Sold 7/22/2023 9/13/2023 10/12/2023 10/12/2023 11/14/2023 Amount Realized $ 4,620 17,890 15,810 12,625 3,575 d. What amount of the gain, if any, is subject to the preferential rate for certain capital gains?

Required information [The following information applies to the questions displayed below] Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2023: Note: Loss amounts should be indicated by a minus sign. Stock Stock A Stock B Stock C Stock D Stock E Date Purchased 1/23/1999 4/10/2023 8/23/2021 5/19/2013 8/20/2023 Net capital gain or loss Basis $ 7,900 15,300 12,375 5,750 7,755 Date Sold 7/22/2023 9/13/2023 10/12/2023 10/12/2023 11/14/2023 Amount Realized $ 5,020 19,090 17,510 13,375 3,825 c. What is Grayson's overall net gain or loss from these transactions? at

Bhil Give me correct answer with explanation please

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Haresh

6. ABC Corp holds 1,000 shares of XYZ Corp.'s shares since 2019. The following are data available at Dec 1, 2020: Cost per share P3.00 Transaction cost per share (upon acquisition)  P1 Most recent transaction price per share P2 Transaction cost per share (current)  P.50 If ABC classified these shares as investment in stocks-FVOCI, how much is the adjustment for the change in fair value?   FVPL 2,000 FVOCI 1,000 FVOCI 1,500 FVOCI 2,000

Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2024: Note: Loss amounts should be indicated by a minus sign. Stock Date Purchased Basis Date Sold Amount Realized Stock A 1/23/2000 $ 7,250 7/22/2024 $ 4,500 Stock B 4/10/2024 14,000 9/13/2024 17,500 Stock C 8/23/2022 10,750 10/12/2024 15,300 Stock D 5/19/2014 5,230 10/12/2024 12,400 Stock E 8/20/2024 7,300 11/14/2024 3,500     a. What is Grayson's net short-term capital gain or loss from these transactions? b. What is Grayson's net long-term gain or loss from these transactions? c. What is Grayson's overall net gain or loss from these transactions? d. What amount of the gain, if any, is subject to the preferential rate for certain capital gains?

Rahul

Required information Problem 7-42 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 7/10/2013 640 4/20/2014 540 1/29/2015 740 490 11/02/2017 Basis $ 34,560 32,292 35,224 26,068 If Dahlia sells 1,520 shares of Microsoft for $112,480 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. Problem 7-42 Part-b (Algo) b. She uses the specific identification method and she wants to minimize her current-year capital gain.

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