If a customer buys $10,000 worth of stock in a cash account, then sells the shares for $12,000 without first paying for the buy side, and then requests the $2,000 profit, which of the following statements are TRUE?
I. The $2,000 profit cannot be sent to the customer until he pays for the buy side in full.
II. The $2,000 can be sent to the customer, but the account will be frozen for 90 days.
III. If the customer pays for the buy side in full on or before the fifth business day following trade date, status as a frozen account is lifted.
IV. Both trades must be switched to the customer's margin account, where buying and selling in this manner are acceptable practices.
A) III and IV.
B) II and III.
C) I and II.
D) I and III.

Answers

Answer 1

Answer:

B) II and III.

Explanation:

Based on the information given the statement that are TRUE are II and III

II. The amount of $2,000($10,000-$12,000) which is the profit for the business will be given to the customer but the customer account will have to be frozen or put on hold for 90 days because the customer had not paid for the buy side before selling the shares for the amount of $12,000

III. In a situation where customer paid the amount for the buy side in full either before or after the fifth business day which is the day that follows the trading date, the customer account that had be frozen will be unfrozen or lifted because the buy side amount had be paid in full.


Related Questions

On June 1, 2016, Enne Brahtz Corporation received $3,600 as advance payment for 12 months' advertising. The receipt was recorded as a credit to Unearned Fees. What adjusting entry is required on December 31, 2016?

Answers

Answer:

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Explanation:

The adjusting entry is shown below;

Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800

       To Advertising revenue $1,800

(Being the adjusting entry is recorded)

Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account

The six months could be computed from June 1 to December 31

The adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.

Date  Account titles and Explanation    Debit   Credit

          Unearned Fees                              $1,800

          ($3,600 × 6 months/ 12 months)

                   To Advertising revenue                     $1,800

            (Being the adjusting entry is recorded)

In conclusion, the adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.

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Buying a franchise might be a good decision for someone who _____. a. wants to create a new product or service b. doesn’t want to work long hours c. doesn’t have experience developing management systems d. likes to work alone without many rules and regulations Please select the best answer from the choices provided A B C D

Answers

Answer:

its C

Explanation:

i got it right on edge

Buying a franchise might be a good decision for someone who doesn’t have experience developing management systems. The appropriate response is option C.

What is a franchise ?

A franchise is a technique of selling goods or services that involves a franchisor who creates the brand's trade name and business model and a franchisee who pays a royalty and frequently an upfront fee to have the right to use the franchisor's name and system.

You can run a business if you buy a franchise as an investor or franchisee. You receive a format or system created by the business (franchisor), the right to use its name for a predetermined period of time, and help in exchange for paying a franchise fee.

Due to the pool of support provided by the franchisor and network of other franchisees, a small firm with a franchise is better able to compete with large corporations than a small business operating independently. In your territory, you often have exclusive rights.

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Pfister Corporation has Long-term Assets of $485,000, Current Liabilities of $150,000, Long-term Liabilities of $220,000 and Owners' Equity of $320,000. Compute Current Assets.

Answers

Answer:

$205,000

Explanation:

Total liabilities=current liabilities+long-term liabilities

total liabilities=$150,000+$220,000

total liabilities=$370,000

total owners'equity plus liabilities=$320,000+$370,000=$690,000

long-term assets+current assets=liabilities+owners'equity

long-term assets=$485,000

current assets are unknown

liabilities+owners'equity=$690,000

let CA represent current assets

$485,000+CA=$690,000

CA=$690,000-$485,000

CA=$205,000

what is stakeholders​

Answers

Answer:

A stakeholder is a party that has an interest in a company and can either affect or be affected by the business.

Hope this helped you!

Explanation:

What is the name of the practice that consists of requiring pickers to gather the items for several orders at once, but keep them separate in separate totes?

Answers

Answer: Batch picking

Explanation:

Batch picking is the practice that consists of requiring pickers to gather the items for several orders at once, but keep them separate in separate totes.

It should be noted that in batch picking, a batch of orders are picked by a single picker and this typically help in the reduction of making constant repeated trips to same location

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What do you want to be when you grow up? Why?

Answers

Answer:game designer. reason: i love video:games

Explanation:

Answer:

a vet person

Explanation:

Which short-term financial managers are involved with selling on credit and are directly responsible to the vice president of finance?

Answers

Answer:

The credit manager, and the Controller

Explanation:

The credit manager is responsible for maintaining the credit policy, in order to fulfil this target they are responsible to look at the sales and ensure the credit sales are in the sales limit.

Further that the company do not have the bad debts, it shall verify each customer properly that they have enough funds, and ensure their credibility.

Controller is responsible for maintaining the financial records of accounts, and reporting the transactions to managers.

Accordingly, Credit manager along with controller are directly responsible to the vice president of finance.

If the price of cocoa rises by 20 percent, the quantity supplied of cocoa rises by 4 percent. What is the elasticity of supply?

Answers

Answer: 0.2

Explanation:

Elasticity of supply shows the responsiveness to the quantity supplied for a good or service to changes in market price. Supply is  Elastic if its elasticity is greater than 1  and inelastic if elasticity is less than 1

Elasticity of supply = Percentage change in  quantity supplied / Percentage change in Price

= 4%/ 20%

=0.2 which is inelastic.

What is an Incentive?

Answers

Answer:

It gives u a motive to do something

Explanation:

Like sometimes work places give incentives like a raise if you do your job better

An object, valuable item, desired action, or event is referred to as an "incentive" if it prompts an employee to engage in more of the activity that the employer wanted them to by way of the selected incentive.

What is a good incentive for employees?

Cash presents and experiences are the top three rewards. Gifts can include things like electronics, ride-share credits, and gift cards. Perks like tickets to concerts, festivals, and sporting events are examples of experiences. Your incentives must inspire employees.

When it comes to employees, incentives and rewards at work are advantageous to both workers and employers. Employee morale, job satisfaction, and motivation to help organizations achieve their objectives can all be improved by praising employees for their performance and productivity.

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What is an advantage of a Limited Liability Company?

Answers

Answer:

llc ,No restrictions on the number of members allowed

pass through taxation

In a spreadsheet, there are many features that help you edit quickly.
O True
O False

Answers

Answer:True

Explanation:There are many form a quick editing hoped this helped ;) ... In a spreadsheet, there are many features that help you edit quickly.

Answer:
True

Explanation:
I did the same question

At the end of Year 1 Bowers Company had $6,000 of assets, $2,000 of liabilities, $3,000 of common stock, and $1,000 of retained earnings. During Year 2 Bowers experienced the following events.
(1) Borrowed $4,000 cash.
(2) Earned $5,000 of cash revenue.
(3) Paid $3,000 of cash expenses.
(4) Paid $7,000 cash to purchase land
a. what is net income
b. what is CF from IA
c. what is total L?

Answers

Answer:

a.$2,000

b.($7,000)

c.$2,000

Explanation:

Calculation of Net Income

Revenue                        $5,000

Less Expenses             ($3,000)

Net Income or (Loss)     $2,000

Cash Flow from Investing Activities

Purchases of Land                            ($7,000)

Net Cash from Investing Activities  ($7,000)

Calculation of Total Liabilities

Opening Balance (Year 1)                  $2,000

Cash Borrowed during Year 2        $4,000

Total Liabilities                                  $6,000

To pay for investment advice from financial consultants Smith and Jones, Tony signs a check payable to "Smith or Jones." A proper indorsement of the check is: a.not possible. b."Smith" and "Jones" only. c."Smith" only, or "Jones" only, but not "Smith" and "Jones." d."Smith" only, or "Jones" only, or "Smith" and "Jones."

Answers

Answer:

to Smith only, or Jones only, or Smith and Jones

Explanation:

In this specific scenario, a proper indorsement of the check would be to Smith only, or Jones only, or Smith and Jones. That is because a check needs to be as specific as possible and cannot have various options. The check needs to be made to a single specific individual and if it is for more than one individual then both need to be included as a requirement (and). Making it so that both recipients must cash the check together for it to be accepted.

While producing on the production possibilities frontier, if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be

Answers

Answer:

a straight line

Explanation:

The Production possibilities frontier is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.  

As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.

If opportunity cost was constant, there would be no trade off between goods, so the curve would be a straight line

"A customer buys an equity LEAP contract on the first day that the option starts trading. If the contract expires "out the money," the customer will have a:"

Answers

Answer:long term capital loss

Explanation:

The options to the question are:

a. short term capital gain

b. short term capital loss

c. long term capital gain

d. long term capital loss

LEAP options is an acronym for Long-term Equity Anticipation. It is an option contract which is said to expire at least a year from the purchase date. It should be noted that they are more affordable than stocks due to the fact that they are typically offered at an option contract price.

A customer buys an equity LEAP contract on the first day that the option starts trading. If the contract expires "out the money," the customer will have a long term capital loss.

Henly Company enters into a contract to transfer a product to Propel Inc. On July 31, 2019. It is agreed that Propel will pay the full price of $10,000 in advance on April 15, 2019. Henly delivers the product on July 31, 2019. The cost of the product is $7,500. Requirement: What journal entries are required in 2019?

Answers

Answer and Explanation:

The journal entries are shown below:

1. No journal entry should be recorded for entered into a contract

2. On April 15

Cash Dr $10,000

      To Unearned sales revenue $10,000

(Being advance is recorded)

3. On July 31

Unearned Sales Revenue $10,000

         To Sales Revenue        $10,000

(Being the unearned sales revenue is recorded)

Cost of Goods Sold   $7,500

         Inventory              $7,500

(Being the cost of a product is recorded)

he set of activities that transforms raw resources into the goods and services end users purchase and consume is called the:

Answers

Answer:

Value chain

Explanation:

As seen above, a value chain can be defined as the activities that transform raw materials into goods and services. That is the process that raw materials underwent to become something of value to end users that they can either purchase or that is edible.

Cheers

Eve's apples opened its business on january 1, 2018, and paid for two insurance policies effective that date. The liability policy was $34,200 for 18 months, and the crop damage policy was $14,700 for a two-year term. What is the balance in eve's prepaid insurance as of december 31, 2018

Answers

Answer:

Balance in Prepaid insurance as of December 31 is $18,750

Explanation:

      Computation of Prepaid Insurance

Insurance 1    ($34,200 * 6/18)       $11,400

Insurance 2   ($14,700 * 12/24)      $7,350

Total Prepaid Insurance               $18,750

A 2-column table has 9 rows. The first column is labeled monthly expenses with entries rent, utilities phone internet, groceries, entertainment, renters insurance, car/insurance/gas, discretionary spending, total expenditures, net savings. The second column is labeled amount budgeted with entries 600, 230, 300, 50, 20, 475, 75, 1,850, 100 dollars. You have decided to set a new goal of saving at least $4,500 over the course of the next year. You already have $900 saved. By how much would you need to increase your monthly net savings in order to meet this goal? $100 $150 $200 $250

Answers

Answer:

200

Explanation:

right on edge

Based on your current level of saving, you need to increase your monthly net saving by $200 to meet your target.

Amount that you need to save next year.

You have already saved $900 and you want to get to $4,500. The amount left is:
= 4,500 - 900

= $3,600

Monthly savings

To get to $3,600, you need to save:

= 3,600 / 12 months

= $300

What should you increase your net saving by?

You currently save $100 so you need to increase by:

= 300 - 100

= $200

In conclusion, you need to increase savings by $200.

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On freeways, passing other vehicles... Is a way of showing who is "king of the road". Should be avoided at all costs. Prevents one from becoming drowsy. Is an essential component of driving.

Answers

Answer:

is an essential component of driving

Explanation:

On freeways, passing other vehicles is an essential component of driving. On a freeway, there are a variety of lanes with each lane specified for a specific speed range which moves from slowest (far right lane) to fastest (far left lane). Many times individuals may not follow these speeds and other drivers must learn how to successfully pass these vehicles safely and correctly if they are driving in freeways.

Select the qualification that is best demonstrated in each example. Carmen is a Parts Salesperson who has a professional attitude and speaks well to customers. Norma is a Farm Equipment Mechanic who is good at identifying why a piece of machinery is not working. Everett is an Agricultural Equipment Operator who works well alone and stays focused.

Answers

Answer:

its communication skills   Problem-solving skills       independence

Explanation:

Carmen: Demonstrates excellent communication skills and professional attitude.

Norma: Demonstrates strong problem-solving skills and expertise in diagnosing mechanical issues.

Everett: Demonstrates the ability to work independently and maintain focus on the task at hand.

What are communication skills?

Communication skills refer to the ability to convey information effectively and efficiently through verbal and nonverbal means. These skills include listening, speaking, writing, and presenting in a clear, concise, and compelling manner.

Good communication skills also involve being able to tailor the message to the audience and being able to understand and interpret the messages of others.

Other important communication skills include the ability to ask good questions, provide feedback, resolve conflicts, and build relationships. Effective communication is essential in both personal and professional settings and is a key component of success in many areas of life.

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QUESTION 7 of 10: Which is NOT a use for market research?
a) Identifying what services customers want
Ob) Deciding what merchandise to sell
O c) Determining tax deductions
O d) Forecasting sales
Submit

Answers

Answer:

The answer would be b, determining tax deductions

Explanation:

All three of the other points are ways you can find out customers needs and wants, however tax deduction is used to figure out how much tax is owed.

do you think we need to prioritize a want ?justify

Answers

Answer:

I don't think we should prioritize want

Explanation:

This question is more or less an opinion where there's no right or wrong answers.

However, I'll answer your question from my own personal view of want.

I think we do not need to give priorities to wants because, our wants, according to economics are insatiable and unlimited. Meaning that, when you give priorities to an unlimited entity called want, you will not get satisfaction due to the fact that they are unlimited.

In other words, the moment you achieve one of your wants; you will be be presented with another set of wants.

On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Ayayai Corp. issued $11,700,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation’s common stock. The debentures were issued for $12,636,000. The present value of the bond payments at the time of issuance was $9,945,000, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2020, the corporation’s $30 par value common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2021, when the corporation’s $15 par value common stock was selling for $135 per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums.1. Prepare the entry to record the original issuance of the convertible debentures. Account Titles and Explanation Debit Credit Cash 12420000 Premium on Bonds Payable 920000 Bonds Payable 11500000 2. Prepare the entry to record the exercise of the conversion option, using the book value is required,Account Titles and Explanation Debit Credit Bonds Payable Premium on Bonds Payable 220800 Common Stock Paid-in Capital in Excess of Par - Common Stock

Answers

Answer:

cash       12,636,000

 convertible bonds payable    11,700,000 credit

 premium on convertible bonds 936,000 credit

--to record the issuance--

convertible bonds payable     3,510,000  debit

premium on convertible bonds 252,720 debit

      common stock                                   526,500 credit

     additional paid-in common stock   3,236,220 credit

--to record the exercised bonds---

Explanation:

the issuance will be:

cash for the amount received

then convertible bonds payable for 11,700,000

and a premium between their face value and the market price.

12,636,000 - 11,700,000 = 936,000

IN 2020 the bonds are now convertible to 10 shares of $15 as a product of the sotkc-split

Jan 1st 30% are exercised:

bonds exercised:

11,700,000 x 30% = 3,510,000

premium at jan 1st 2021:

936,000 / 20 years x 18 years left = 842,400

Then we calculate 30%: 842,400 x 0.30 = 252,720

common stock:

3,510,000 / 1,000 per bonds x 10 shares per bonds = 35,100 new shares

35,100 x $15 = 526,500 common stock

additional paid-in common stock:

we solve for the difference:

book value of the bonds less common stock face value

(3,510,000 + 252,720) - 526,500 =  3.236.220

Which two management perspectives typically consider an organization to be a closed system? Check all that apply.

Answers

Answer:

Classical management viewpoint

management science perspective

Explanation:

As the name suggests the closed system refers to a system in which the company is operating at their own without any influence to be done from the outside world

The classical management theory refers to the theory that depends on the trust that the employees have two needs i.e. physical and economical. Neither they have social needs, nor job satisfaction, etc

Management science perspective refers to a solving a problem and take the decisions that are beneficial for an organization

Therefore these two should be considered as a closed system

Question in picture.

Answers

I’d say it’s the 4th one.
it is most definitely the 4th one.

Consider the following accounts (Click the icon to view the accounts.) Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows. (If a box is not used in the table, leave the box empty; do not select a label.) a. Accounts Payable b. Cash c. Common Stock d. Accounts Receivable e. Rent Expense f. Service Revenue g. Office Suppliesh. Land i. Salaries Expense

Answers

Answer:

a. Accounts Payable = B

b. Cash = I

c. Common Stock = B

d. Accounts Receivable = B

e. Rent Expense = I

f. Service Revenue = I

g. Office Supplies = B

h. Land = B

i. Salaries Expense = I

Explanation:

The Income Statement shows the Revenues (Incomes) and Expenses incurred during the period of operation.

The Balance Sheet shows the Balances of Assets, Liabilities and Equity at the end of the financial period.

The Statement of Cash flows shows the results of Cash Flow arising from Operating, Investing and Financing Activities.

International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.


True False

Answers

Answer: True

Explanation:

International trade is simply exchange of goods and services that take place between countries. It should be noted that gloabl trading gives the countries and the consumer opportunity through which they're exposed to the produfte that they don't have in their countries.

International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.

This is True

International trade is still mostly concentrated among the developed countries of the Northern Hemisphere. Which country is the largest importer of the world?

Answers

Answer:

China&the U.S.

Explanation:

These two countries are lead producers and importers. You lift the tag of your favorite sweatshirt and see Made in China. The U.S. does'nt produce as much goods, but importing is a big U.S. sideline business. The U.S. imports alot of goods worlwide. From The Indies to The Middle East, the U.S. is a lead importer.

An extended warranty contract (Select all that apply.) provides protection beyond the manufacturer's original warranty. is considered an integral part of the related product. essentially constitutes a separate performance obligation.

Answers

Answer:

provides protection beyond the manufacturer's original warranty.

essentially constitutes a separate performance obligation.

Explanation:

An extended warranty contract can be defined as an elongation of the coverage period on a service agreement between a manufacturer and the customer.

An extended warranty contract;

1. provides protection beyond the manufacturer's original warranty.

2. essentially constitutes a separate performance obligation.

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