An investor has E£50,000 (Egyptian pound). He deposits E£37,000 into a brokerage account. He buys 1,000 shares of the Commercial International Bank (CIB) for E£35 per share. One week later, the investor sells the CIB stock for E£37. When he receives his brokerage account statement, he sees that there is a missing item: What belongs in item 4 on this statement?

 

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Item 1. Deposit 2. CIB purchase 3. CIB sale 4. 5. Balance Number of Shares 1,000 1,000 Price per Share (E) 35 37 Total Transaction (E£) 37,000 35,000 37,000 Account Balance (E£) 37,000 37,000 39,000 38,000 Item 1. Deposit 2. CIB purchase 3. CIB sale 4. 5. Balance Number of Shares 1,000 1,000 Price per Share (E) 35 37 Total Transaction (E£) 37,000 35,000 37,000 Account Balance (E£) 37,000 37,000 39,000 38,000

Answer rating: 100% (QA)

Item 4 belong to Brokerage cha... View the full answer