NYSE NASDAQ Bid Ask Bid Ask
Compasny X $149.55 $150.45 $149.87 $150.13
Company Y $127.88 $128.12 $127.70 $128.30

Currently you have $120.00 in cash and 1000 shares of Stock Y in your brokerage account. You plan to simultaneously sell 1000 shares of Stock Y, then purchase as many shares of Stock X as possible. Assume you cannot borrow or buy partial shares of stock; you will also buy or sell at the best price offered. Based on the quotes provided, the cash balance in your brokerage account after you purchase the shares of Stock X is closest to:

a. $(60.89)
b. $59.11
c. $87.95
d. $89.24
e. $106.10

Option d ($89.24) is the correct option.

Explanation:

The given values are:

In cash,

= $120

Throughout stock Y,

= 1000 shares

Throughout NYSE, the stock Y would be

= $127.88.

Amount procured by offering to buy the Y stock throughout NYSE will be:

=

=

The total amount throughout the Demat account will be:

=

=

For stock X, the minimum lowest price would be in NASDAQ,

Now,

The buying stock X will be:

=

= i.e.,

The invested amount will be:

=

=

So the cash amount in brokerage a/c will be:

=

=

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.