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4 years ago

Which statement applies to the commodities exchange

Business

2 answers:

vredina [299]4 years ago

6 0

Answer:dear God, i think the answer might be it has a set of regulations that must be followed

Explanation:

lidiya [134]4 years ago

4 0

Explanation:

Commodities Exchange is a Market, either physical or virtual, where different commodities are being traded with different volumes. Most commonly traded commodities which are traded physically are agricultural commodities, which may include Rice, Wheat, Corns, nuts, seeds, etc. Most commonly traded commodities, which are traded virtually through a system or software with the help of internet, may include Oil, Gold, Stocks, Silver, other precious metals, Soy, etc.

A large number of buyers and sellers are present in commodities exchange market. People buy and sell different commodities, derivatives, stocks, options, futures, spots etc.

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Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem

Yuliya22 [10]

Answer:

$22,500

Explanation:

Given that,

During the year, Cost of shipping inventory to the Ski Outfit = $92,500

By the end of the year, amount of merchandise sold to customers = $70,000

Mogul will repeat inventory at the year end:

= Cost of inventory sent to consignee - Cost of inventory sold by consignee

= $92,500 - $70,000

= $22,500

Therefore, the amount of inventory will Mogul report at year end is $22,500.

6 0

3 years ago

Wyly Inc. produces and sells a single product. The selling price of the product is $225.00 per unit and its variable cost is $90

svlad2 [7]

Answer:

Option (C) is correct.

Explanation:

Contribution per unit:

= selling price - variable cost per unit

= $225 - $90

= $135 per unit

Break-even in (Units):

= fixed expense ÷ Contribution per uni

= 354,060 ÷ 135

= 2622.67

So, Break-even in Sales:

= Break-even units × selling price

= 2622.67 × $225

= $590,100

Therefore, the break-even in monthly dollar sales is closest to $590,100.

5 0

3 years ago

Hitzu Co. sold a copier costing $4,500 with a two-year parts warranty to a customer on August 16, 2015, for $9,000 cash. Hitzu u

dedylja [7]

Answer:

1. How much warranty expense does the company report in 2015 for this copier?

$360

2. How much is the estimated warranty liability for this copier as of December 31, 2015?

$360

3. How much warranty expense does the company report in 2016 for this copier?

4. How much is the estimated warranty liability for this copier as of December 31, 2016?

$229

5a. Record the sale of a copier for $9,000 cash.

Dr Cash 9,000

Cr Sales revenue 9,000

5b. Record the cost of goods sold of $4,500.

Dr Cost of goods sold 4,500

Cr Inventory - merchandise 4,500

5c. Record the estimated warranty expense at 4% of the sales.

Dr Warranty expense 360

Cr Warranty liability 360

5d. Record the cost of $131 towards repair of copier on November 22, 2016.

Dr Warranty liability 131

Cr Inventory - repair parts 131

7 0

4 years ago

The _____ shows how long the average student takes to earn a degree and this can be helpful in determining the return on investm

Ket [755]

Answer:

Graduation rate

Explanation:

:)))))))

3 0

4 years ago

Read 2 more answers

In its first year of operations, Grace Company reports the following:

ANEK [815]

Answer:

D) $25,000.

Explanation:

The Accrual Basis of Accounting is the process in which income earned or expenses incurred are recorded at the time the transaction takes place, whether or not the cash has been exchanged.

Net Income is derived by subtracting Expenses from Revenue.

N.B. Prepaid Expenses are Advance Payments towards expenses and are a Balance Sheet Items and will not be recorded under Net Income Calculations until the Expenses are realized.

So, The Net Income can be calculated as follows;

Revenue $60,000

Less: Expenses $35,000

Net Income $25,000

Hence Option D will be correct answer.

#NETINCOME

#PREPAIDEXPENSES

#ACCRUALBASISOFACCOUNTING

5 0

3 years ago