Maxwell owns 2000 shares of stock in falcon corporation


Question - Maxwell owns 2,000 shares of stock in Falcon Corporation, worth $50 per share. The 2,000 shares were purchased in 2001 for $10 per share. In 2009, the corporation issued a 30% stock dividend to all common shareholders with an option of receiving either the stock or $30,000. Maxwell selected the stock. What is Maxwell's gross income from the above?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Maxwell owns 2000 shares of stock in falcon corporation
Reference No:- TGS02617594

Now Priced at $20 (50% Discount)

Recommended (92%)

Rated (4.4/5)