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3 years ago

11

If Malcolm shorts 500 shares of a stock priced at $15 per share, how much profit or loss will he realize for each $1 change in s

tock price?
Select the best answer from the choices provided.
A.
$15
B.
$33
C.
$500
D.
$7,500

1 answer:

MAXImum [283]3 years ago

6 0

The answer is C. 500 dollars

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Answer:

<u>JOURNAL ENTRY</u>

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Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

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Explanation:

(a) The stock had a par value of $9 per share and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

Being issuance of 3,700 shares of common stock at par value of $9 per share, with premium

(b) The stock had a stated value of $9 per share and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock....................33,300

Cr. Additional Paid in Capital..24,700

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(c) The stock had no par or stated value and was issued for a total of $58,000.

<u>JOURNAL ENTRY</u>

Dr. Cash..................58,000

Cr. Common Stock............58,000

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<u>JOURNAL ENTRY</u>

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Cr. Additional Paid In capital........24,700

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(e) The stock had a par value of $9 per share and was issued for land worth $58,000.

<u>JOURNAL ENTRY</u>

Dr. Service fees..................58,000

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2 years ago

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