FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Griffin only owns 1000 shares of XYZ stock in his brokerage account. The stock has traded steadily lower. One day, Griffin checks his brokerage account

Griffin only owns 1000 shares of XYZ stock in his brokerage account. The stock has traded steadily lower. One day, Griffin checks his brokerage account and sees that XYZ stock price is $50; Griffin is shocked since a day earlier it was $5. He checks the value of his account, and is confused, since it hasn't changed. What could be one explanation for this?

Step by Step Solution

★★★★★

3.54 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

One possible explanation for Griffins confusion is that a stock split occurred A stock split is when ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Taxation Of Individuals And Business Entities 2015

Taxation Of Individuals And Business Entities 2015

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

6th Edition

978-1259206955, 1259206955, 77862368, 978-0077862367

More Books

Students also viewed these Finance questions

Question

★★★★★
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

Answered: 1 week ago

Question

★★★★★
XYZ declared a $1 per share dividend on August 15. The date of record for the dividend was September 1 (the stock began selling ex-dividend on September 2). The dividend was paid on September 10....

Answered: 1 week ago

Question

★★★★★
Meghan, age 39, and Harry, age 37, are US citizens who were married in May 2018. They live together in California with their two-year old son, Archie, and provide all of his support. Meghan and Harry...

Answered: 1 week ago

Question

★★★★★
1.The purpose of using a balanced scorecard is for: Multiple Choice A.companies to make sure their business activities align with strategy. B.companies to compare themselves with their competitors....

Answered: 1 week ago

Question

★★★★★
a. On April 1, the cash account balance was $7,850. During April, cash receipts totaled $41,850, and the April 30 balance was $9,150. Determine the cash payments made during April. b. On July 1, the...

Answered: 1 week ago

Question

★★★★★
How does struct differ from array?

Answered: 1 week ago

Question

★★★★★
=+a row lie on the same side of the mean. What is the probability that this would happen based on random chance variation alone? What assumptions do you have to make to answer this?

Answered: 1 week ago

Question

★★★★★
The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes. The companys cost analyst has concluded that utilities cost is a mixed cost, and he is...

Answered: 1 week ago

Question

★★★★★
ddacddQ 3 ) [ 2 points ] A 4 - bit serial in / parallel out shift register is initially set to 1 1 1 1 . The data 1 0 1 0 is applied to the input. After three clock cycles the output will be 0 1 0 1...

Answered: 1 week ago

Question

★★★★★
Kenmare Architects Ltd. (KAL) was incorporated and commenced operations on January 1, 2014. Sheila Kenmare, the company's only employee, consults with various clients and uses expensive equipment to...

Answered: 1 week ago

Question

★★★★★
Pharoah Company has 17000 shares of 5% , $100 par value, cumulative preferred stock and 34000 shares of $1 par value common stock outstanding at December 31, 2017. There were no dividends declared in...

Answered: 1 week ago

Question

★★★★★
SCMP Module 5, Module Culminating Assignment. (MCA) Workplace review in a case study format for the given below topics (from executive summary to monitor and control). As the focus is on strategic...

Answered: 1 week ago

Question

★★★★★
1. Referring to Exhibit 4, compute the annual percentage change in net income per common share-diluted (second numerical line from the bottom) for 1998-1999, 1999-2000, and 2000- 2001. Date Range...

Answered: 1 week ago

Question

★★★★★
tony soprano, leader of the soprano crime syndicate of NJ, waskilled by one of his own henchmen. detective vine interviews themen and determines that all were lying except for one, based onwhat he...

Answered: 1 week ago

Question

★★★★★
Tesar Chemicals is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. The CEO believes the IRR is the best...

Answered: 1 week ago

Question

★★★★★
Which statement about Pay What You Want ( PWYW ) pricing strategy below is CORRECT? 1 point In this strategy, customers will receive a product or service as long as they pay something. A firm using...

Answered: 1 week ago

Question

★★★★★
Characteristics of capital budgeting include: ( Check all that apply. ) Multiple select question. outcome is uncertain outcome is certain long - term investment short - term investment small amount...

Answered: 1 week ago

Question

★★★★★
Consider the setup in Problem 16. Show that the relative speed of the ball and the point of contact on the stick is the same before and immediately after the collision. (This result is analogous to...

Answered: 1 week ago

Question

★★★★★
The state of Georgia recently increased its tax on a pack of cigarettes by $2.00. What type of tax is this? Why might Georgia choose this type of tax?

Answered: 1 week ago

Question

★★★★★
Compare and contrast the cost and percentage depletion methods for recovering the costs of natural resources. What are the similarities and differences between the two methods?

Answered: 1 week ago

Question

★★★★★
Last year, Miley decided to terminate the S corporation election of her solely owned corporation on October 17, 2013 (effective immediately), in preparation for taking it public. At the time of the...

Answered: 1 week ago

Question

★★★★★
Kohlman Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $195,200, and $217,600, respectively, for...

Answered: 1 week ago

Question

★★★★★
An environmentalist wants to determine if the median amount of potassium (mg/L) in rainwater in Lincoln County, Nebraska, is different from that in the rainwater in Clarendon County, South Carolina....

Answered: 1 week ago

Question

★★★★★
See Problem 15. A restaurant critic ranks restaurants as excellent, good, fair, or poor. We want to judge whether two restaurant critics have the same distribution of opinions. The opinions of critic...

Answered: 1 week ago

Previous Question Next Question