Carlo, not a dealer in securities, had the following transactions on ordinary shares of JJ Co. (a domestic corporation) for 2021 taxable year: Jan. Purchase 100 shares P100,000 12 June Sold the shares purchased 80,000 20 on Jan. 12 June Purchased 70 shares 50,000 30 Oct. Sold the shares purchase 75,000 15 on June 30 How much was the capital gain on sale of shares on October 15?
Carlo, not a dealer in securities, had the following transactions on ordinary shares of JJ Co. (a domestic corporation) for 2021 taxable year: Jan. Purchase 100 shares P100,000 12 June Sold the shares purchased 80,000 20 on Jan. 12 June Purchased 70 shares 50,000 30 Oct. Sold the shares purchase 75,000 15 on June 30 How much was the capital gain on sale of shares on October 15?
Chapter22: S Corporations
Section: Chapter Questions
Problem 27P
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Transcribed Image Text:Carlo, not a dealer in securities, had the following transactions on ordinary shares of
JJ Co. (a domestic corporation) for 2021 taxable year:
Jan.
Purchase 10O shares
P100,000
12
June Sold the shares purchased
80,000
20
on Jan. 12
June
Purchased 70 shares
50,000
30
Oct. Sold the shares purchase
75,000
15
on June 30
How much was the capital gain on sale of shares on October 15?
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