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mafiozo [28]
3 years ago
8

You purchased five August 13 futures contracts on soybeans at a price quote of 1056′6. Each contract is for 5,000 bushels with t

he price quoted in cents and 1/8 ths of a cent per bushel. Assume the contract price is 1061′4 when you close out your contract six weeks from now. What will be your total profit or loss on this investment? A) $6,480.75 B) $1,187.50 C) $950.25 D) $24,000.00 E) $16,200.50
Business
1 answer:
stira [4]3 years ago
3 0

Answer:

B) $1,187.50

Explanation:

The computation of the total profit or loss on this investment is given below:

Expiration price = 1061'4  = 1061 + 4 ÷ 8 = 1061.50

Quoted price = 1056'6 = 1056 + 6 ÷ 8 = 1056.75

Now the profit is

= (1061.50 - 1056.75) × 5000 × 5

= $1,187.50

Hence, the profit on this investment is $1,187.50

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Murrr4er [49]

Answer:

Report a prior period adjustment decreasing retained earnings by $1,365,000.

Explanation:

Going by the question we can derive that $2,100,000 is the prior period's warranty. Consequently, it will be charged to the current year's earnings following the deduction of tax, 35%.

(2,100,000 *65) /100 = $1,365,000

This above calculation is so because Under the accrual basis of accounting...operating expense are reported on the income statement in the particular period when they took place or when they expire

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4 years ago
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Answer: b) need for power.

Explanation:

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To be able to further their interests, they need power and influence which means that the personal characteristic that fosters organizational politics is the need to have power.

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3 years ago
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When electrical or magnetic interference is present
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You would like to purchase one Class A share of Berkshire Hathaway through your Scottrade brokerage account. Scottrade charges a
Bumek [7]

Answer:

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