FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

an investor enters into a future contract to sell white maize for R 3700 per tonne. the contract is for delivery of 1000 tonnes. The

an investor enters into a future contract to sell white maize for R 3700 per tonne. the contract is for delivery of 1000 tonnes. The initial margin is R550 000 and the maintenance margin is R 250 000. What is the amount of Profit? Will the investor make a profit/loss?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

11th Edition

1119594596, 978-1119594598

More Books

Students also viewed these Accounting questions

Question

★★★★★
Assume that the equity risk premium is normally distributed with a population mean of 6 percent and a population standard deviation of 18 percent. Over the last four years, equity returns (relative...

Answered: 1 week ago

Question

★★★★★
Dina Corp. uses a job order cost accounting system. Four jobs were started during the current year. The following is a record of the cost incurred: Actual overhead costs were $55,800. The...

Answered: 1 week ago

Question

★★★★★
The NEO-PI-3 is founded on the idea that all people share the same five fundamental personality characteristics and that we differ only in the strength of these characteristics. Do you agree that all...

Answered: 1 week ago

Question

★★★★★
Effect of Transactions on Financial Statements and Ratios the transactions listed below relate to Wainwright Inc. You are to assume that on the date on which each of the transactions occurred the...

Answered: 1 week ago

Question

★★★★★
Discuss the two alternatives for product costing systems. Be sure to address the following: How do the two systems differ? What are the characteristics of the companie that would use each? Describe...

Answered: 1 week ago

Question

★★★★★
Buckeye Department Stores, Inc., operates a chain of department stores in Ohio. The company's organization chart appears below. Operating data for 20x1 follow. Buckeye Department Stores Columbus...

Answered: 1 week ago

Question

★★★★★
3. Briefly explain the following step toward ethical behaviour: Carrying out one's decision a. Weakness of will b. Strength of will C. Locus of control d. Willingness to obey authority

Answered: 1 week ago

Question

★★★★★
Queens black is a popular input with an annual demand of 5 0 0 0 0 gallons, ordering cost of$ 5 0 per order, and holding cost of $ 5 per unit per year; the econmoic orer quantity is 1 , 0 0 0 . Hence...

Answered: 1 week ago

Question

★★★★★
Project management has been around ever since the time of the pyramids.However, today many organizations and industries are still struggling to understand and apply good project management to their...

Answered: 1 week ago

Question

★★★★★
describe what the Death with Dignity Act is, What are three of the most important rules concerning who is eligible for physician-assisted dying? What are the main reasons some people support Death...

Answered: 1 week ago

Question

★★★★★
THE FORUMIY mon applies to be a you Now. Laker Company reported the following January purchases and sales data for its only product. For specific identification, ending inventory consists of 232...

Answered: 1 week ago

Question

★★★★★
Towards the end of the 1990s the iconic British garment company Burberry was in trouble. For the financial year ending 31 March 1998, profits plunged from 62 million to 25 million. The owners of...

Answered: 1 week ago

Question

★★★★★
The quality of the argumentation

Answered: 1 week ago

Question

★★★★★
The status rule: We tend to have more confidence in information presented by someone who has a relatively high status and rank in society than by someone who hasnt.

Answered: 1 week ago

Question

★★★★★
The spatial rule: The closer spatial proximity we have to an event, the more importance we will attach to it.

Answered: 1 week ago

Previous Question Next Question