Keisha Sold 200 Shares of Chic-Chic Stock in 2017 for $22,500

question 122

Multiple Choice

Keisha sold 200 shares of Chic-Chic stock in 2017 for $22,500 and received a 1099-B to record the sale of the shares.Keisha's investment portfolio includes the following purchases of Chic-Chic's stock: $\begin{array}{rr}2008 & 100 \text { shares at } \$ 100 \text { per share } \\2009 & 50 \text { shares at } \$ 110 \text { per share } \\2010 & 125 \text { shares at } \$ 130 \text { per share } \\2013 & 75 \text { shares at } \$ 125 \text { per share }\end{array}$ Assuming Keisha does not identify which shares she sold,she will recognize

• A)no gain or loss.
• B)$500 gain.
• C)$1,000 loss.
• D)$3,125 loss.

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Definitions:

Damaged Van

A van that has suffered physical harm or injury, impacting its value and functionality.

Repair

The process of restoring equipment, machinery, or property to its previous condition to ensure functionality.

Joint Product

Products that are generated simultaneously in the same process and cannot be distinguished until a certain point in production.

Scrap Price

The amount of money that can be received for materials or products that are considered waste or unusable in their primary form.