Marking to market refers to the determination of the prices of options contracts by the interaction of demand and supply. the determination of the prices of futures contracts by the interaction of demand and supply. the settlement of gains and losses on futures contracts each day. the settlement of gains and losses on forward contracts each day.

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?

The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows: