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Kobotan [32]
3 years ago
5

On December 12, year 1, Imp Co. entered into three forward exchange contracts, each to purchase 100,000 euros in ninety days. Th

e relevant exchange rates are as follows: Spot rate Forward rate (for March 12, year 2) November 30, year 1 $.87 $.89 December 12, year 1 $.88 .90 December 31, year 1 $.92 .93 At December 31, year 1, what amount of foreign currency transaction loss should Imp include in income from the revaluation of the Accounts Payable of 100,000 euros incurred as a result of the purchase of inventory at November 30, year 1, payable in March year 2?
Business
1 answer:
timama [110]3 years ago
6 0

Answer:

40.000

Explanation:

I think your approach is not clear at all, but your question is.

So if you have bought merchandise worth 100,000 euros but your records are in other currencies, you must take the exchange rate at the time of the operation, this is $ 0.89. You will register

Inventorty 890.0000

accounts paylable     890,000

At the close of the fiscal year your liabilities must be valued at the official exchange rate, in this case it is $ 0.93

then your foreign currency debt increases, but not your inventory, the other account that is used is a negative result for this rate change

loss exchange rate    40,000

accounts paylable                     40.000

in the valuation of liabilities the seller exchange rate is used

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Wilcox Corporation reported the following results for its first three years of operation: 2020 income (before income taxes): $30
inysia [295]

Answer:

$1,890,000

Explanation:

Calculation to determine what income (loss) is reported in 2021

2021 Reported Income loss=[$2,700,000-($2,700,000 × 30%)]

2021 Reported Income loss=($2,700,000-$810,000)

2021 Reported Income loss=$1,890,000

Therefore the income (loss) that is reported in 2021 will be $1,890,000

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The manager of the Beach Division of Treat Time is evaluating the acquisition of a new mobile ice cream server. The budgeted ope
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Answer:

ROI = 10.5%

Explanation:

The  ROI of a Division is the portion of then operating assets that is earned by  as operating income  by it. The higher the better.

Net operating assets = 28,600,000 - 600,000 = 28,000,000

ROI = Income/ Net operating assets × 100

ROI = 2,940,000/28,000,000  × 100

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3 years ago
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Llana [10]

Answer:

<u>Opportunity</u>

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O<em>pportunities are external thin</em>g .<em> You have to look for them , it is not something which come to you by it own .Instead you have to work hard for </em>it.

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According to the Equal Pay Act, the situation presented is an example of wage discrimination based on gender.

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According to this law, employers (public and private) are prohibited from paying differentiated salaries based on sex in jobs that require equal skills, effort and responsibilities, and that are performed under similar working conditions.

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According to the foregoing, it can be inferred that it is a differential treatment based on discrimination based on sex.

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