prettygirllniyiaa
26.03.2020 •
Business
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $345,000; Cash paid for rent, $41,000; Cash paid to employees for services rendered during the year, $121,000; Cash paid for utilities, $51,000. In addition, you determine that customers owed the company $61,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2,100 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
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Ответ:
LTCL = $0
Basis = $3,575
Explanation:
January 15, 2018, buy 1,000 shares at $5,100
December 31, 2020, sold 1,000 shares at $4,550
If Ms. Fresh hadn't repurchased the stock in January, she could have reported a long term capital loss of $550. But since she repurchased the 1,000 shares just after selling them, it is considered a wash sale.
So no long term capital loss will be recognized and the basis of the 1,000 stocks = $3,025 + $550 = $3,575