Use the Following Stock Quotes to Answer This Question $\text { 52-WEEK }$

question 95

Multiple Choice

Use the following stock quotes to answer this question:
$\text { 52-WEEK }$
$\begin{array}{lccccc} \text{ Company} & \text{ Volume} & \text{ Close} & \text{ Chg }& \text{ High }& \text{ Low } \\ \text{ Aldridge, Inc.} & 32,653,080 & 34.50 & -.20 & 41.60 & 33.90 \\ \text{ Baker Co.} & 11,508,900 & 78.10 & -2.30 & 82.30 & 74.60 \\ \text{ Chelsea, Inc. }& 51.873,450 & 48.20 & 4.10 & 48.60 & 29.40\end{array}$

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A pension fund purchased 25 round lots of Chelsea, Inc., stock at the closing price of the day yesterday. What was the cost of that purchase?

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Definitions:

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and equity.

Adjusted Balance

An accounting figure reached after adjusting the book balance of an account for checks and deposits in transit, fees, or errors.

Balance Per Bank

The amount of money that a company's bank account shows according to the bank's records.

Outstanding Checks

Checks that have been written and recorded in the accounting records but have not yet been cashed or cleared by the bank.