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Murrr4er [49]
3 years ago
11

A system that is used for trading contracts for future delivery of cattle is known as

Business
1 answer:
m_a_m_a [10]3 years ago
6 0

Answer:

Cattle Future Contracts

Explanation:

A system that is used for trading contracts for future delivery of cattle is known as Cattle Future Contracts

Cattle futures contracts are agreements which are legally binding between the buying and selling party, for cattle to be delivered at a set date in the future and are negotiated at a futures exchange.

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During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation, completed the following tr
DanielleElmas [232]

Answer:

Trial Income Statement:

Service revenue         $17,000

Rent expense            ($3,500)

Insurance expense      ($350)

<u>Wages expense       ($10,500)</u>

Net income                $2,650

*We need to adjust other expenses like supplies or utilities. I assumed the salaries paid were for a 10 days period since no one pays salaries in advance.

Trial Balance Sheet

Assets:

Cash $62,200

Supplies $1,000

Prepaid insurance $3,850

<u>Equipment $10,000           </u>

Total Assets $77,050

Liabilities and Equity:

Accounts payable $8,000

Wages payable $7,000

Common Stock $60,000

<u>Retained earnings $2,050               </u>

Total Liabilities and Equity $77,050

Explanation:

July 1

Dr Cash 60,000

    Cr Common stock 60,000 (6,000 stocks $10 par value)

July 3

<u>Rent expense 3,500</u>

    Cr Cash 3,500

July 5

Dr Prepaid insurance 4,200

    Cr Cash 4,200

Adjusting entry July 31

Dr Insurance expense 350

    Cr Prepaid insurance 350

July 7

Dr Supplies 1,000

    Cr Accounts payable 1,000

July 10

Dr Wages expense 3,500

    Cr Cash 3,500

Adjusting entry July 31

Dr Wages expense 7,000 ($3,500 x 2 10 day periods)

    Cr Wages payable 7,000

July 14

Dr Equipment 10,000

    Cr Cash 2,500

    Cr Accounts payable 7,500

July 15

Dr Cash 8,000

    Cr Service revenue 8,000

July 19

Dr Accounts payable 500

    Cr Cash 500

July 31

Dr Cash 9,000

    Cr Service revenue 9,000

Dr Retained earnings 600

    Cr Dividends payable 600

Dr Dividends payable 600

    Cr Cash 600

6 0
2 years ago
Suppose Tim spends his entire income on hot dogs and hamburgers and consumes at least some of both. Now suppose that the price o
natali 33 [55]

Answer:

D. Tim consumes more hamburgers and fewer hot dogs.

Explanation:

For his utility to remain constant, Tim will neither consume more goods in total, nor spend more money than before.

Therefore, because the price of hot dogs has risen, while the price of hamburger has remained the same, he will now buy more hamburgers and less hot dogs, because eating more hamburgers and less hot dogs will not decrease his satisfaction, it will remain the same. We can also conclude from that both fast food products are perfect substitutes for Tim.

7 0
3 years ago
For banks and other financial​ institutions, the discrepancy between the​ short-term maturities of their deposits and the​ long-
Naddik [55]

Answe and Explanation:

For banks and other financial​ institutions, the discrepancy between the​ short-term maturities of their deposits and the​ long-term maturities of their assets is referred to as​ _a maturity mismatch___________.

8 0
3 years ago
Given the following information, which of the following firms has the lowest required rate of return? Group of answer choices
marta [7]

Answer:

Shuldig Co. has the lowest required rate of return

Explanation:

Shuldig Co.

$5.50 = $1.05 / (Re + 10%)

Re = 19% - 10% = 9%

Iccarus Inc.

$275.80 = $3.10 / (Re - 14%)

Re = 1.1% + 14% = 15.1%

Simpson LLC.

$94.30 = $3.00 / (Re - 10%)

Re = 3.2% + 10% = 13.2%

3 0
3 years ago
A manager needs to order company shirts for each employee. She was quoted the following rates. If she orders 75 shirts and passe
Anton [14]
The answer is B.$7.47.

Let's first calculate how much in total 75 shirts cost:
- first 19 (less than 20) cost $10: 19 * $10 = $190
- the next 30 cost $8: 30 * $8 = $240
- the rest (26 = 75 - 19 - 30) cost $5: 26 * $5 = $130

So, in total 75 shirts cost $560:
19 * $10 + 30 * $8 + 21 * $5 = $190 + $240 + $130 = $560

Since 75 shirts are ordered, there must be 75 employees, so each employee must pay $7.47:
$565 ÷ 75 = $7.47
8 0
2 years ago
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