How much gain does juan recognize on the sale, Accounting Basics

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How much gain does juan recognize on the sale

Juan owns 100 shares of stock purchased two years ago for $4,000. At the date of distribution, the rights are worth $1,000 (100 rights at $10 per right) and Juans stock in Platinum is worth $5,000 (or $50 per share). On December 1, Juan sells all 100 stock rights for $12 per right. How much gain does Juan recognize on the sale?

A. $1,200.

B. $533.

C. $400.

D. $0.

E. None of the above.

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Accounting Basics: How much gain does juan recognize on the sale

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Accounting Basics: How much gain does juan recognize on the sale

Reference No:- TGS092390

Recent Questions Asked Accounting Basics

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