On July 3, 2009, Devin Purchased 100 Shares of CDEF

question 49

Multiple Choice

On July 3, 2009, Devin purchased 100 shares of CDEF stock at a cost of $30 per share. His commission was $29. He sold his shares on July 6, 2011, at a price of $45 per share less another $29 commission. During the time he held the stock, he earned dividends of $2.50 per share. What was his total return on his investment?

• A) $250
• B) $1,492
• C) $1,692
• D) $1,721
• E) $1,750

Understand the accounting treatment for lease payments received by a lessor in a sales-type lease.

Calculate and understand the gross profit recognition at the inception of a sales-type lease.

Comprehend the objectives of FASB's rules concerning leases.

Recognize the conditions that preclude a lessor from classifying a lease as a sales-type or direct financing lease.