P6.2 An investor deposits $20,000 into a new brokerage account. The investor buys 1,000 shares of Tipco
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P6.2 An investor deposits $20,000 into a new brokerage account. The investor buys 1,000 shares of Tipco stock for $19 per share. Two weeks later, the investor sells the Tipco stock 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: Item Number Price per Share Total Account Transaction Balance 1. Deposit $20,000 $20,000 2. Tipco purchase 1,000 shares $19 ($19,000) $20,000 3. Tipco sale 1,000 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: 9780136117049
11th Edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Scott B. Smart, Scott J. Smart
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