Use the Following Information for Questions

question 49

Short Answer

Use the following information for questions.
On April 1, 2017, Gamma Corp.purchases a call option for $500, which gives Gamma the right to buy 1,000 shares of Delta Inc.for $30 each until December 1, 2017.Delta Inc.shares are currently trading for $30.At June 30, 2017, the options are trading at $4,800 and the shares at $32 each.At December 1, 2017, the options expire with no value.
-At June 30, 2017, Gamma's quarter end, the adjusting entry would be

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Definitions:

Wechsler Adult Intelligence Scale

A standardized test designed to measure intelligence and cognitive ability in adults and older adolescents.

WAIS

Wechsler Adult Intelligence Scale, a standardized test designed to measure human intelligence in adults.

Culture-Free Intelligence Tests

Psychological tests designed to assess intelligence or cognitive abilities without relying on knowledge that is specific to any particular cultural or educational background.

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The cognitive ability to arrange objects in order by some attribute, such as size, color, or number.