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kifflom [539]
2 years ago
15

When a broker-dealer maintains a firm market in a stock, that broker-dealer is committed to?

Business
1 answer:
Jlenok [28]2 years ago
7 0

When a broker-dealer maintains a firm market in a stock, that broker-dealer is committed to purchasing or sale of up to the stated maximum number of round lots (the standard trading unit of the stock) at the stated price.

This is further explained below.

<h3>What is a firm?</h3>

Generally, A company providing professional services for compensation, such as law or accountancy, is called a "firm." One key tenet of "theory of the company" is that enterprises' primary purpose is to increase shareholder wealth.

In conclusion, By keeping a "firm market," a broker-dealer promises to buy or sell up to the maximum number of round lots (the stock's standard trading unit) at the quoted price.

Read more about the firm

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A simple definition of curriculum?
Brilliant_brown [7]
Knowledge that is taught as part of a course of study.
5 0
3 years ago
Taxable income and pretax financial income would be identical for Skysong Co. except for its treatments of gross profit on insta
inessss [21]

Answer:

See the journal entry below.

Explanation:

Before preparing the journal entry, the following are calculated first:

Income tax expense in 2019 = (Taxable income in 2019 * Tax rate in 2019) + (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($158,000 * 40%) + ($195,000 * 45%) + ($92,100 * 45%) = $193,395

Deferred tax liability in 2019 = (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($195,000 * 45%) + ($92,100 * 45%) = $129,195

Income tax payable in 2019 = Taxable income in 2019 * Tax rate in 2019 = $158,000 * 40% = $63,200

Income tax payable in 2020 = Taxable income in 2020 * Tax rate in 2020 = $195,000 * 45% = $87,750

Income tax payable in 2021 = Taxable income in 2021 * Tax rate in 2021 = $92,100 * 45% = $41,445

The journal entry will look as follows:

<u>Date                  General journal                  Debit ($)         Credit ($)    </u>

31 Dec 2019      Income tax expense          193,395  

                             Deferred tax liability                                129,195      

                             Income tax payable                                 63,200

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2020     Deferred tax liability            87,750      

                             Income tax payable                                 87,750

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2021     Deferred tax liability            41,445      

                             Income tax payable                                41,445

<u><em>                            (To record income tax payable.)                                 </em></u>

5 0
3 years ago
The average ticket price for a concert at the opera house was ​$50. The average attendance was 2500. When the ticket price was r
Ber [7]

Answer:

The price per ticket should be $37.5

Explanation:

First we need to determine the change in demand (attendance) as a result of every $1 increase in the price of ticket.

The ticket price increased by $4 (from 50 to 54) and the demand fell by 400 (from 2500 to 2100). The change per dollar is,  400 / 4 = 100.

So, for every $1 increase in price, demand falls by 100.

The revenue is calculated by multiplying price by quantity demanded. Revenue equation will be,

Let x be the change in price from $50.

Revenue = (50 + x)  * (2500 - 100x)

Revenue = 125000 - 5000x + 2500x - 100x²

Revenue = 125000 - 2500x - 100x²

To calculate the price that maximizes the revenue, we need to take the derivative of this equation.

d/dx = 0 - 1 * 2500x° - 2 * 100x

0 = -2500  -  200x

2500 = -200x

2500 / -200 = x

-12.5 = x

Price should be 50 - 12.5 = 37.5

At price $37.5 the revenue of the Opera House is maximized.

6 0
3 years ago
Preparing Journal Entries for Process Costing SystemDuring its first month of operation, Portia Company purchased $90,000 of mat
babunello [35]

Answer:

a.

Date                   Account Title                                     Debit                   Credit

XX-XX-XXXX     Raw materials inventory              $90,000

                           Accounts Payable                                                    $90,000

b.

Date                   Account Title                                     Debit                   Credit

XX-XX-XXXX     Work in Process Inventory           $64,000

                           Raw materials inventory                                          $64,000

c.

Date                   Account Title                                     Debit                   Credit

XX-XX-XXXX     Work in Process inventory            $30,000

                           Wages Payable                                                         $30,000

d.

Date                   Account Title                                     Debit                   Credit

XX-XX-XXXX     Work in Process Inventory             $20,000

                           Manufacturing overhead                                         $20,000

7 0
3 years ago
Brummer Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard is
IRISSAK [1]

Answer:

$91 favorable

Explanation:

Variable overhead rate variance = (Standard variable overhead rate - Actual variable overhead rate) * Actual hour worked

Therefore, we have:

Variable overhead rate variance = ($8.00 - $7.90) * 910 = $91 favorable

Note: the variable overhead rate variance is said to be favorable becasue standard variable overhead rate is geater than the actual variable overhead rate.

6 0
3 years ago
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