John bought 1,000 shares of Intel stock on October 18, 2006 for $30 per share plus a $750 commission he paid to his broker. On December 12, 2009, he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction. a. What is John’s adjusted basis in the 1,000 shares of Intel stock?
b. What amount does John realize when he sells the 1,000 shares?
c. What is the gain/loss for John on the sale of his Intel stock? What is the character of the gain/loss?

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)