! Required information Problem 12-36 (LO 12-2) (Static) [The following information applies to the questions displayed below.] On May 1, year 1, Anna received 5,000 shares of restricted stock from her employer, Jarbal Corporation. On that date, the stock price was $5 per share. On receiving the restricted stock, Anna made an 83(b) election. Anna's restricted shares will all vest on May 1, year 3. After the shares vest, she intends to sell them immediately to purchase a condo. True to her plan, Anna sold the shares immediately after they vested. Note: Leave no answers blank. Enter zero if applicable. Problem 12-36 Part d (Static) d. What is Anna's gain or loss in year 3 if the stock is valued at $5 per share on the day the shares vest? Gain or loss in year 3 Ordinary gain 0

! Required information Problem 12-31 (LO 12-2) (Static) [The following information applies to the questions displayed below.] Antonio received 40 ISOs (each option gives him the right to purchase 20 shares of Zorro stock for $3 per share) at the time he started working for Zorro Corporation six years ago. Zorro's stock price was $3 per share at the time. Now that Zorro's stock price is $50 per share, Antonio intends to exercise all of his options and immediately sell all the shares he receives from the options exercise. Note: Enter all amounts as positive values. Leave no answers blank. Enter zero if applicable. Problem 12-31 Part b (Static) b. What are Zorro's tax consequences on the grant date, the exercise date, and the date Antonio sells the shares? X Answer is complete but not entirely correct. Grant date Exercise date and sale date Tax Benefit $ $ 0 0X Return to que

Problem 14-39 (Algorithmic) (LO. 1, 2, 3) Mahan purchases 1,000 shares of Bluebird Corporation stock on October 3, 2021, for $205,000. On December 12, 2021, Mahan purchases an additional 750 shares of Bluebird stock for $143,500. According to market quotations, Bluebird stock is selling for $205 per share on 12/31/21. Mahan sells 500 shares of Bluebird stock on March 1, 2022, for $114,800. a. What is the adjusted basis of Mahan's Bluebird stock on December 31, 2021? 348,500 Feedback Check My Work Cost identification problems are frequently encountered in securities transactions. For example, the Regulations require that the taxpayer adequately identify the particular stock that has been sold (specific identification). b. What is Mahan's recognized gain or loss from the sale of Bluebird stock on March 1, 2022, assuming the shares sold are from the shares purchased on December 12, 2021? In your computations, round the per share amount to the nearest whole dollar and use the rounded…

Wolfgang issue shares via installment. On 1st June they issue a prospectus to potential investors advertising that they will sell $2,500,000 worth of shares at $1 each. Payable $0.30 on application, $0.30 on allotment, and $0.20 on call. By 15th September, the applications are all received, and 2,900,000 share applications were received. On 30th September, Wolfgang decide to refund excess applications. What journal entry should be entered on 30th September? Dr Cash trust $290 000; Cr Cash $290 000 Dr Application $750 000; Cr Allotment $750 000 Dr Application $120 000; Cr Cash trust $120 000 Dr Cash $870 000; Cr Cash trust $870 000