Answered: A stock dealer sold 5,000 shares…

A stock dealer sold 5,000 shares directly to the buyer. The details are as follows: Selling price P800,000 Cost 300,000 Expenses on sale 50,000 Compute the capital gains tax on the transaction.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...

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Question

A stock dealer sold 5,000 shares directly to the buyer. The details are as
follows:
Selling price
P800,000
Cost
300,000
Expenses on sale
50,000
Compute the capital gains tax on the transaction.

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