Solved: Calculate the realized gain on the sale of stock in 2017, Financial Accounting

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Calculate the realized gain on the sale of stock in 2017

Question: In 2016, Whiteside Catering purchased 60,000 shares of Roush Organic Foods' common stock for $945,000. On December 31, 2016, the fair value of the Roush shares was $900,000. On December 3, 2017, Whiteside sold all of their shares of Roush common stock for $17 per share less $42,000 in brokerage commissions.

Calculate the realized gain on the sale of stock in 2017 that Whiteside should report

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Financial Accounting: Calculate the realized gain on the sale of stock in 2017

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Financial Accounting: Calculate the realized gain on the sale of stock in 2017

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