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Kazeer [188]
3 years ago
5

The contract size for platinum futures is 50 troy ounces. Suppose you need 500 troy ounces of platinum and the current futures p

rice is $1,265 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $1,290 a troy ounce when the futures contract expires? What if the price is $1,210 at expiration?a. Contracts to purchase b. Purchase price c. Dollar profit at $1,290 d. Dollar profit at $1,210
Business
1 answer:
olga55 [171]3 years ago
8 0

Answer:

Explanation:

a) Contract to purchase = 500 troy ounces / 50 = 10 contracts

b) Purchase price = 500 ounces × $ 1265 = $ 632500

c) Dollar profit at $ 1290 = 500  ( $ 1290 - $ 1265) = $ 12500

d) Dollar profit at $ 1290 = 500 ( $1210 - $1265) = $- 27500

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Lipstik, Inc. makes cosmetics. Lipstik intentionally mislabels its packaged products to conceal a defect. Trusting and relying o
Zanzabum

Answer:

Fraud.

Explanation:

Fraud is defined as intentional misrepresentation aimed at gaining unlawful advantage or to deprive a victim of a legal right.

In civil law the victim can file for recovery of money, while in criminal law the fraud perpetrator may be committed to prison.

Lipstik intentionally mislabels its packaged products to conceal a defect, and gains unfair advantage by selling these defective goods to customers. Mikayla buys the lipstick based on the misrepresented information on the label and gets injured.

8 0
2 years ago
Three Torque Inc., a U.S.-based multinational company, allows its managers to make facilitating payments in host countries to ex
Goryan [66]

Answer:

Cultural Relativism

Explanation:

Cultural relativism basically implies that other people's values, norms and morals should be understood and respected, rather than judged, usually from the viewpoint of another culture, as the saying goes when in Rome, act like the Romans.

Therefore, Three Torque Inc. has demonstrated Cultural Relativism in deciding to respect the ethics of countries that prohibit facilitating payments.

6 0
3 years ago
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments
Snowcat [4.5K]

Answer:

-$1,800

Explanation:

Given that

Tax liability = $1,700

Prepayment made = $1,500

Child tax credit = $2,000

The computation of tax refund is given below:-

= Tax liability - (Prepayment made + Child tax credit)

= $1,700 - ($1,500 + $2,000)

= $1700 - $3500

= -$1,800

Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.

3 0
3 years ago
The following information is for employee William Heedy for the week ended March 15.
ioda

Answer:

1. b. $896.00

2. c. $317.20

3. a. $578.80

4. b. $67.20

5. d. $4.80

Explanation:

1. WIlliam's total earnings

40 hours at $16 = $640

8 hours at $32 = $256

Total                  = $896

2. WIlliam's total deductions

Income Tax                                        $200

United Fund deduction                     $50

Social security tax (6% * $896)         $3.76

Medicare tax (1.5% * $896)                <u>$13.44</u>

Total                                                    <u>$317.20</u>

3. William's net pay

= Total earnings - Total deductions

= $896 - $317.20

= $578.80

Cash Paid is $578.80

4. Employers FICA based on Williams pay

Social Security and Medicare taxes = 7.5% * $869 = $67.20

5. Employers Federal Unemployment based on Williams pay

Federal unemployment tax = 0.8% * $600 = $4.80

7 0
3 years ago
Skysong, Inc. compiled the following financial information as of December 31, 2022:
kifflom [539]

Answer:

$459,000

Explanation:

The computation of the ending retained earning balance is shown below:

Ending retained earning balance is

= Opening retained earning balance + net income - dividend

where

Net income

= Service revenue - operating expenses

= $827,000 - $748,000

= $79,000

Now the ending retained earnings balance is

= $444,000 + $79,000 - $64,000

= $459,000

3 0
2 years ago
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