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Home Q & A Board Other Fields Homework Help Business Accounting
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Sheena Maskell Sheena Maskell
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7 years ago
Joy purchased 200 shares of HiLo Mutual Fund on July 15, 2006, for $10,500, and has been reinvesting dividends. On December 15, 2010, she sells 100 shares.

   Amount   No. of shares
Purchase July 15, 2006   $10,500   200
Reinvested dividends, Oct 1, 2007   800   10
Reinvested dividends, Oct 1, 2008   970   20
Reinvested dividends, Oct 1, 2009          980      20
   $ 13,250   250

What is the basis for the shares assuming (1) FIFO and (2) average cost method?
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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MsLippyMsLippy
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Sheena M. Author
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#2
7 years ago
Really helped
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