Ms. Gus feels confident that Gru Inc. stock will increase in value over the long-term....

60.1K

Verified Solution

Question

Accounting

Ms. Gus feels confident that Gru Inc. stock will increase in value over the long-term. At the beginning of the year, Ms. Gus paid $15,000 for 750 shares of Gru Inc. stock. She instructed her broker to reinvest any dividends in additional Gru Inc. shares. Her Form 1099-DIV reported that she earned $820 dividend income which purchased 39 additional shares. Which of the following statements is true?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students