Word Problem

Question

Mr. Harding sold 100 shares of stock at $14 per share. He had a
loss of $6 per share. What did Mr. Harding pay for each share of
the stock?

Answer 1

 

Loss/sh = Cost/sh - Sell/sh     (if loss is a treated as positive such as +$6/sh)

 

Rearrange to solve for Cost/sh:

 

Cost/sh = Loss/sh + Sell/sh = $6/sh + $14/sh = $20/sh