Unformatted text preview: her father $8500 10 years ago and is worth $10,000 at the date of the gift. a. If the stock is sold for $12500 calculate the amount of the gain or loss on the sale. b. If the stock is sold for $4600 calculate the amount of the gain or loss on the sale. 5. During 2010, Tom sold Sears stock for $10,000. The stock was purchased 4 years ago for $13,000. Tom also sold Ford Motor Co. bonds for $35,000. The bonds were purchased 2 months ago for $30,000. Home Depot stock, purchased 2 years ago for $1,000, was sold by Tom for $1500. Calculate Tom’s net gain or loss, and indicate the nature of the gain or loss....
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- Spring '12
- Accounting, Ford Motor Company, Texaco, Chevron Corporation