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2 years ago

A customer opens an account and tells the broker to do whatever is prudent. what should the broker do?

Business

1 answer:

Yakvenalex [24]2 years ago

8 0

The broker should obtain a signed power of attorney from the customer.

A broker is someone or firm who arranges transactions between a buyer and a dealer for a fee whilst the deal is done. A broker who additionally acts as a supplier or as a buyer will become a foremost party to the deal.

In general, before transacting customs enterprise on behalf of a customer, a customs broking is needed “to obtain a legitimate energy of attorney to accomplish that.” 19 C.F.R. 141.46. Neither CBP statutes nor regulations further elaborate as to whether or not digital signatures are accredited to execute a POA.

A power of attorney is a written document signed and recounted by way of one person (the essential) authorizing another man or woman (the lawyer in fact or agent) to behave on their behalf. The law, in particular, provides that the strength of a lawyer may additionally confer authority upon behavior banking transactions on behalf of the most important.

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Better Bottles, Inc., Uses a periodic inventory system and has the following:

STALIN [3.7K]

Answer and Explanation:

1. The computation of the ending inventory and the cost of goods sold using the periodic FIFO method is shown below;

FIFO Ending Inventory 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 33 $30 $990

Jan. 15 Purchase 11 $22 $242

Total 44 $1,232

 FIFO Cost of goods sold 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 20 $20 $400

Jan. 15 Purchase 16 $22 $352

Total 36 $752

2. The computation of the ending inventory and the cost of goods sold using the periodic LIFO method is shown below;

 FIFO Ending Inventory 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 20 $20 $400

Jan. 15 Purchase 24 $22 $528

Total 44 $928

FIFO Cost of goods sold

Description # of Units Cost per Unit Total Cost

Jan. 20 Purchase 33 $30 $990

Jan. 15 Purchase 3 $22 $66

Total 44 $1,056

3. The computation of the cost per unit using the Periodic Weighted Average method is

= Cost of goods sold ÷ Number of units

= $1,984 ÷ 80

= $24.80 per unit

Weighted average Ending inventory

# of Units Cost per Unit Total Cost

44 $24.80 $1,091

Weighted average Cost of goods sold

# of Units Cost per Unit Total Cost

36 $24.80 $893

4. The computation of the completed cost of goods sold by applying the three methods is

Particulars FIFO LIFO Weighted average

Beginning Inventory $400 $400 $400

Add: Purchases $1,584 $1,584 $1,584

Goods Available for Sale $1,984 $1,984 $1,984

Less: Ending Inventory -$1,232 -$928 -$1,091

Cost of Goods Sold $752 $1,056 $893

6 0

3 years ago

Multico is a securities dealer whose principal market is with other securities dealers. To take advantage of a perceived opportu

Delvig [45]

Answer:

$50,100

Explanation:

Given that

Acquired value of a financial asset other than principal market = $50,000

Sale value of the identical instrument in principal market = $50,100

Transaction cost = $200

For reporting the fair value, we have to exclude the transaction cost i.e $200 and consider that cost which is to be received while exchanging i.e $50,100

This sale value would be equal to the fair value i.e $50,100 should be reported as a fair value

3 0

4 years ago

Teall Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard mac

hoa [83]

Answer:

Option A,$4,200 is the correct option to the question

Explanation:

The fixed manufacturing overhead budget for the month is the difference between budgeted fixed manufacturing overhead cost and actual fixed manufacturing overhead cost for the month as shown by the computation below:

Fixed manufacturing overhead budget variance =$52,000-$56,200=-$4,200

The variance is an unfavorable since the actual overhead cost of $56,200 outweighs the budgeted cost of $52,000,hence the correct option is A

7 0

3 years ago

Before introducing a new piece of software, star software inc. Conducts benchmark activities to assess how popular the product w

lesantik [10]

Assessing the current state of affairs is done during this stage of the strategic management process.

Every assessment project is tailored to your unique requirements. Projects typically involve gathering and analyzing data from a variety of sources, and they usually end with a presentation and/or written report that highlights the main conclusions and suggestions. A team from the church or ministry may occasionally help with data collection. The evaluation might consist of:

From the church or ministry's statistics
external data, like local demographics
additional analysis of certain data
interviews with important figures
Focus sessions
online poll to gather more opinions

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5 0

1 year ago

Lin Corporation has a single product whose selling price is $140 per unit and whose variable expense is $70 per unit. The compan

Fudgin [204]

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price= $140

Unitary variable cost= $70

Fixed cost= $31,600

To calculate the number of units to be sold to obtain a profit of $8,300, we need to use the following formula:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (31,600 + 8,300) / (140 - 70)

Break-even point in units= 570

Now, the dollar sales for $10,000 profit:

Break-even point (dollars)= (fixed costs + desired profit) / contribution margin ratio

Break-even point (dollars)= (31,600 + 10,000) / (70/140)

Break-even point (dollars)= $83,200

6 0

3 years ago