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Deirdre sold 100 shares of stock to her brother james for

Deirdre sold 100 shares of stock to her brother, James, for $2,400. Deirdre purchased the stock several years ago for $3,000.

a. What gain or loss does Deirdre recognize on the sale?
b. What amount of gain or loss does James recognize if he sells the stock for $3,200?
c. What amount of gain or loss does James recognize if he sells the stock for $2,600?
d. What amount of gain or loss does James recognize if he sells the stock for $2,000?

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Accounting Basics: Deirdre sold 100 shares of stock to her brother james for

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Accounting Basics: Deirdre sold 100 shares of stock to her brother james for

Reference No:- TGS0774386

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