On May 1, you sold short one round lot (i. e., 100 shares) of Zenith stock at

Question:

On May 1, you sold short one “round lot” (i. e., 100 shares) of Zenith stock at $ 14 per share. On July 1, a of $ 2 per share was paid. On August 1, you covered the short sale by buying the stock at a price of $ 9 per share. You paid 50 cents per share in commissions for each transaction. What is the value of your account on August 1?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...