Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An investor deposits $22,000 into a new brokerage account. The investor buys 1,000 shares of Tipco stock for $21 per share. Two weeks later, the
An investor deposits $22,000 into a new brokerage account. The investor buys 1,000 shares of Tipco stock for $21 per share. Two weeks later, the investor sells the Tipco stock for $24 per share. When the investor eceives his brokerage account statement, he sees that there is a balance of $24,907 in his account. What belongs in item 4 on this statement? (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Total ShareTransaction Balance Price per Account Item 1. Deposit 2. Tipco purchase 3. Tipco salke Number $22,000 (521,000 22,000 $25,000 522,000 $21 1,000 shares$24 1,000 shares $24,000 5. Balance $24,907 The fee that belongs in item 4 is: (Choose the best answer below.) Price per Share Total Account Transaction Balance Item Number OA. 4. Brokerage fee OB. 4. Brokerage fee OC. 4. Brokerage fee O D. 4. Brokerage fee 593 ($93) $3,000 ($3,000)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started