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On May 17, 2021, Parnassus Core Equity Fund, an open-end mutual fund, has the following assets and prices at 4:00 PM. Stock Shares owned Price Seagate Technology PLC 2,000 $97.00 Western Digital Corp. 5,000 $71.00 Carnival Corp. 4,500 $27.00 Norwegian Cruise Line Holdings Ltd. 12,000 $28.00 Royal Caribbean Group 400 $85.00 Fox Corp. 13,000 $37.00 Walt Disney Co. 3,500 $173.00 AmerisourceBergen Corp. 2,500 $116.00 A new investor sends the fund a check for $125,960.54 before 4 PM on May 17, 2021. The fund charges . 3.70% front-end load. Assume that the manager uses the received money to purchase 1,000 shares of Western Digital Corp., 500 shares of Carnival Corp., 100 shares of Royal Caribbean Group, and 500 shares of AmerisourceBergen Corp. at their closing prices, and the rest (if there is any) is held as cash. Question: What will happen to the number of shares outstanding for the fund? Round your answer to the nearest integer. O The number of fund shares outstanding will increase by 2,000 shares. O The number of fund shares outstanding will not change. O The number of fund shares outstanding will increase by 10,000 shares. by 5.000 shares

On May 17, 2021, Parnassus Core Equity Fund, an open-end mutual fund, has the following assets and prices at 4:00 PM. Stock Shares owned Price Seagate Technology PLC 2,000 $97.00 Western Digital Corp. 5,000 $71.00 Carnival Corp. 4,500 $27.00 Norwegian Cruise Line Holdings Ltd. 12,000 $28.00 Royal Caribbean Group 400 $85.00 Fox Corp. 13,000 $37.00 Walt Disney Co. 3,500 $173.00 AmerisourceBergen Corp. 2,500 $116.00 A new investor sends the fund a check for $125,960.54 before 4 PM on May 17, 2021. The fund charges . 3.70% front-end load. Assume that the manager uses the received money to purchase 1,000 shares of Western Digital Corp., 500 shares of Carnival Corp., 100 shares of Royal Caribbean Group, and 500 shares of AmerisourceBergen Corp. at their closing prices, and the rest (if there is any) is held as cash. Question: What will happen to the number of shares outstanding for the fund? Round your answer to the nearest integer. O The number of fund shares outstanding will increase by 2,000 shares. O The number of fund shares outstanding will not change. O The number of fund shares outstanding will increase by 10,000 shares. by 5.000 shares

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On May 17, 2021, Parnassus Core Equity Fund, an open-end mutual fund, has the following assets and prices at 4:00 PM. Stock Shares owned Price Seagate Technology PLC 2,000 $97.00 Western Digital Corp. 5,000 $71.00 Carnival Corp. 4,500 $27.00 Norwegian Cruise Line Holdings Ltd. 12,000 $28.00 Royal Caribbean Group 400 $85.00 Fox Corp. 13,000 $37.00 Walt Disney Co. 3,500 $173.00 AmerisourceBergen Corp. 2,500 $116.00 A new investor sends the fund a check for $125,960.54 before 4 PM on May 17, 2021. The fund charges 3.70% front-end load. Assume that the manager uses the received money to purchase 1,000 shares of Western Digital Corp.., 500 shares of Carnival Corp., 100 shares of Royal Caribbean Group, and 500 shares of AmerisourceBergen Corp. at their closing prices, and the rest (if there is any) is held as cash. Question: What will happen to the number of shares outstanding for the fund? Round your answer to the nearest integer. O The number of fund shares outstanding will increase by 2,000 shares. O The number of fund shares outstanding will not change. O The number of fund shares outstanding will increase by 10,000 shares. O The number of fund shares outstanding will increase by 5,000 shares.
Transcribed Image Text:On May 17, 2021, Parnassus Core Equity Fund, an open-end mutual fund, has the following assets and prices at 4:00 PM. Stock Shares owned Price Seagate Technology PLC 2,000 $97.00 Western Digital Corp. 5,000 $71.00 Carnival Corp. 4,500 $27.00 Norwegian Cruise Line Holdings Ltd. 12,000 $28.00 Royal Caribbean Group 400 $85.00 Fox Corp. 13,000 $37.00 Walt Disney Co. 3,500 $173.00 AmerisourceBergen Corp. 2,500 $116.00 A new investor sends the fund a check for $125,960.54 before 4 PM on May 17, 2021. The fund charges 3.70% front-end load. Assume that the manager uses the received money to purchase 1,000 shares of Western Digital Corp.., 500 shares of Carnival Corp., 100 shares of Royal Caribbean Group, and 500 shares of AmerisourceBergen Corp. at their closing prices, and the rest (if there is any) is held as cash. Question: What will happen to the number of shares outstanding for the fund? Round your answer to the nearest integer. O The number of fund shares outstanding will increase by 2,000 shares. O The number of fund shares outstanding will not change. O The number of fund shares outstanding will increase by 10,000 shares. O The number of fund shares outstanding will increase by 5,000 shares.
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