[The following information applies to the questions displayed below. Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for $5,986. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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Required information
Problem 11-67 (LO 11-6) (Algo)
[The following information applies to the questions displayed below.]
Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for
$5,986.
Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
Problem 11-67 Part-c (Algo)
c. What amount of gain or loss does James recognize if he sells the stock for $5,256?
Answer is complete but not entirely correct.
Recognized gain or loss
$ (730) X
Transcribed Image Text:Required information Problem 11-67 (LO 11-6) (Algo) [The following information applies to the questions displayed below.] Deirdre sold 146 shares of stock to her brother, James, for $4,380. Deirdre purchased the stock several years ago for $5,986. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable. Problem 11-67 Part-c (Algo) c. What amount of gain or loss does James recognize if he sells the stock for $5,256? Answer is complete but not entirely correct. Recognized gain or loss $ (730) X
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