P6.2 An investor deposits $20 000 into a new brokerage account. The investor buys 1000 Tipco shares
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P6.2 An investor deposits $20 000 into a new brokerage account. The investor buys 1000 Tipco shares for $19 per share. Two weeks later, the investor sells the Tipco shares for $20 per share.
When the investor receives his brokerage account statement, he sees that there is a balance of
$20 900 in his account:
Price per Total Account Item Number Share Transaction Balance 1. Deposit $20 000 $20 000 2. Tipco purchase 1000 shares $19 ($19 000) $20 000 3. Tipco sale 1000 shares $20 $20 000 $21 000 4.
5. Balance $20 900 What belongs in item 4 on this statement?
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Related Book For
Fundamentals Of Investing
ISBN: 9781442532885
3rd Edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Scott Smart, Roger Juchau, Donald Ross, Sue Wright
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