Alfonso purchased 600 shares of Crosswinds, Inc., stock on 60 percent margin when the stock was selling for $37 a share. The stock is currently selling for $32 a share. What is his current equity position?
A. $10,320
B. $7,680
C. $8,880
D. $11,560
E. $9,600
Answer: A
You might also like to view...
Answer the following statements true (T) or false (F)
1. The unit product cost is only part of the information that is needed to determine the sales price for each product. 2. If work-in-process units are incomplete, the costs remain in Work-in-Process Inventory and are reported on the balance sheet. 3. The cost of goods sold is added to net sales revenue to determine gross profit. 4. cost of goods manufactured includes selling expenses, administrative expenses, and manufacturing overhead. 5. The inventory of a merchandising company consists of Raw Materials Inventory, Work-in-Process Inventory, and Finished Goods Inventory.
Customers' needs should be given strong consideration before the final price is chosen
Indicate whether the statement is true or false
What is the chief advantage of the periodic system?
A. Immediate feedback on the inventory on hand at any time during the period B. Timely discovery of losses due to theft C. Better control over inventory D. Efficiency and ease of recording
New sources of water pollutants must install pollution-control equipment before beginning operations
a. True b. False Indicate whether the statement is true or false