(Answered) Question - alex purchased 5000 worth of shares in a small

Accounting

Question - Alex purchased $5000 worth of shares in a small biotech company on 1 September.

At 31 December, the company declared and paid an interim dividend of $700 which was unfranked. Alex sold his shares on 18 June for $10,000.

What amount must Alex include in his assessable income for the year as ordinary income?

$700

$5,700

$10,700

None of the above

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