Answered: Assume you purchased 200 shares of GE…

Assume you purchased 200 shares of GE common stock on margin at $100/share using 40% margin. How much did you borrow from your broker? a) $6,000 b) $4,000 c) $3,000 d) $8,000 e) $12,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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please show formula

Assume you purchased 200 shares of GE common stock on margin at $100/share
using 40% margin. How much did you borrow from your broker?
a) $6,000
b) $4,000
c) $3,000
d) $8,000
e) $12,000

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