trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $41.90. 250 shares @ $22.05 200 shares @ $22.00 800 shares @ $21.90 900 shares @ $21.80 The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to: $18,425.00 $19,700.00 $19,722.50 $19,767.50 $20,121.00 f. None of the above answers is
trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $41.90. 250 shares @ $22.05 200 shares @ $22.00 800 shares @ $21.90 900 shares @ $21.80 The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to: $18,425.00 $19,700.00 $19,722.50 $19,767.50 $20,121.00 f. None of the above answers is
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 12RE: Assume that Lily Corporation has outstanding 1,500 shares of 150 par callable preferred stock that...
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- A trader submits a market to sell 900 shares. The buy limit orders standing in the stock's order book at the time the order is entered are shown below. None of the limit buy orders are “all or none” orders except for the 800- share bid at $41.90.
- 250 shares @ $22.05
- 200 shares @ $22.00
- 800 shares @ $21.90
- 900 shares @ $21.80
The proceeds from the sale of the 900 shares, ignoring the trading commission, are closest to:
- $18,425.00
- $19,700.00
- $19,722.50
- $19,767.50
- $20,121.00
f. None of the above answers is correct
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