Prepare the balance sheet at the end of the trading day

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At the beginning of a trading day, you bought 500 shares of Jasper stock at $41 a share, and 200 shares of Casper at $20 a share. Your initial margin is 60% and the maintenance margin is 40%. Assume that your own funds are equal to the initial margin requirement. At the end of the day the closing price of Casper share was $25 a share, and your account equity balance is $100 above the maintenance margin level. What is the closing price of Jasper share at the end of the trading day? Ignore the interest charges on your borrowed amount. In addition, prepare the balance sheet at the end of the trading day, and what is the closing margin balance in % of total assets?

Reference no: EM13285403

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