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spayn [35]
2 years ago
10

Here is some price information on Fincorp stock. Suppose first that Fincorp trades in a dealer market. Bid Asked 55.25 55.50 a.

Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed? (Round your answer to 2 decimal places.) b. Suppose you have submitted an order to sell at market. At what price will your trade be executed? (Round your answer to 2 decimal places.)
Business
1 answer:
Artemon [7]2 years ago
7 0

Answer:

a. Your trade will be executed at the bid price of 55.25.

b. Your trade will be executed at the ask price of 55.50.

Explanation:

First note that:

The bid price is the highest price a buyer will pay for a security.

The ask price is the lowest price a seller will accept for a security.

Therefore, we have:

a. Suppose you have submitted an order to your broker to buy at market.  At what price will your trade be executed? (Round your answer to 2 decimal places.)

Since you are the buyer, your trade will be executed at the bid price of 55.25. This is because the bid price is the highest price you as a buyer will pay for a security.

b. Suppose you have submitted an order to sell at market. At what price will your trade be executed? (Round your answer to 2 decimal places.)

Since you are the seller, your trade will be executed at the ask price of 55.50. This is beecausee the ask price is the lowest price uou as a seller will accept for a security.

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If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit  Cash $100,000 ; Credit to Preferred Stock $100,000.

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Based on the given information we were told that the company issued  1,000 shares in which the cumulative preferred stock is the amount  $100 cash per share. The appropriate journal entry to record the transaction is:

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Workings:

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Answer:

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Based on the above explanation, if effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

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