Compute the cost per share, Financial Accounting

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Compute the cost per share

Response to the following problem:

BankOne buys 500 shares of Chevron Texaco stock, paying $64 per share. Suppose Chevron Texaco distributes a 10% stock dividend. Later, BankOne sells the Chevron Texaco stock for $60 per share.

1. Compute BankOne's new cost per share after receiving the stock dividend.

2. Compute BankOne's gain or loss on the sale of this available-for-sale investment.

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Financial Accounting: Compute the cost per share

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Financial Accounting: Compute the cost per share

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