In december dave sells unlisted stock with a cost of 25200, Financial Accounting

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In december dave sells unlisted stock with a cost of 25200

In december, dave sells unlisted stock with a cost of 25200 for 42000. Dave collects 7000 per year for five year plus interest at a rate acceptable to the IRS.

a. How much gain must Dave recognize in the year of the? sale? Assume Dave uses the installment method to report the gain.

b.The following? January, Dave sells the five installments for a total of $ 24000 How much gain or loss must Dave recognize from the sale of the remaining? installments?

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Financial Accounting: In december dave sells unlisted stock with a cost of 25200

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Financial Accounting: In december dave sells unlisted stock with a cost of 25200

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