Question
11. (2.5 pts) On January 1, you sold short one round lot (100 shares) of Snow's stock at $30/share. On March 1, a dividend
11. (2.5 pts) On January 1, you sold short one round lot (100 shares) of Snow's stock at $30/share. On March 1, a dividend of $3/share was paid. On April 1, you covered the short sale by buying the stock at a price of $15/share. You paid $1 per share in commissions for each transaction. What is the value of your account on April 1?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
