Homework Help is Here – Start Your Trial Now!
Business
Accounting
Required: a. If a market buy order for 100 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At what price would the following market buy order be filled? (Round your answer to 2 decimal places.) Next best price

Required: a. If a market buy order for 100 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) Best price b. At what price would the following market buy order be filled? (Round your answer to 2 decimal places.) Next best price

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

dvu

Problem 3-17 (Algo) Consider the following limit order book for FinTrade stock. The last trade in the stock occurred at a price of $75. Limit Buy Orders Shares 500 Price $ 74.75 74.70 74.65 74.60 73.65 Best price 800 500 200 600 Limit Sell Orders Shares 100 100 100 100 Next best price Price $ 74.80 Required: a. If a market buy order for 100 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) 74.85 74.90 74.95 b. At what price would the following market buy order be filled? (Round your answer to 2 decimal places.).
Transcribed Image Text:Problem 3-17 (Algo) Consider the following limit order book for FinTrade stock. The last trade in the stock occurred at a price of $75. Limit Buy Orders Shares 500 Price $ 74.75 74.70 74.65 74.60 73.65 Best price 800 500 200 600 Limit Sell Orders Shares 100 100 100 100 Next best price Price $ 74.80 Required: a. If a market buy order for 100 shares comes in, at what price will it be filled? (Round your answer to 2 decimal places.) 74.85 74.90 74.95 b. At what price would the following market buy order be filled? (Round your answer to 2 decimal places.).
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS