EX 12-11 Effect of stock split Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughou the Southwest. Willey's Grill & Restaurant, which had 325,000 shares of common stock our standing, declared a 3-for-1 stock split. A. What will be the number of shares outstanding after the split? Obj. 4 B. If the common stock had a market price of $450 per share before the stock split, what would be an approximate market price per share after the split?

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.