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Tju [1.3M]
3 years ago
6

Brisco Bricks purchases raw material from its foreign supplier, Bolivian Clay, on May 8. Payment of 2,000,000 foreign currency u

nits (FC) is due in 30 days. May 31 is Brisco's fiscal year-end. The pertinent exchange rates were as follows:
May 8 Spot rate: $ 1.25
May 31 Spot rate: $ 1.26
Jun. 7 Spot rate: $ 1.20
For what amount should Brisco's Accounts Payable be credited on May 8?
Business
1 answer:
Gekata [30.6K]3 years ago
5 0

Answer:

$2,500,000

Explanation:

The computation of the amount which would be credited is shown below:

= Payment of foreign currency units (FC) is due in 30 days × exchange rate i.e spot rate on May 31

= 2,000,000 × $1.25

= $2,500,000

We simply multiply the payment with the spot rate so that the accurate value can come.

All other information which is given is not relevant. Hence, ignored it

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A corporation acquires new funds only when its securities are sold in the
Varvara68 [4.7K]
C so sorry I’m wrong
8 0
3 years ago
Kingbird, Inc. has 10,600 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividend
Rina8888 [55]

If Kingbird wants to pay $420,000 of dividends in 2022. The amount of dividends that the common stockholders will receive is $133,800.

<h3>Dividends </h3>

Using this formula

Remainder allocation to common stockholders=[Total dividend – (Dividiend  in arrears + 2022 dividend)

Let plug in the formula

Remainder allocation to common stockholders=[$420,000 – (10,600×9%×100×2)+(10,600×9%×100)

Remainder allocation to common stockholders=[$420,000 – ($190,800+ $95,400)]

Remainder allocation to common stockholders=[$420,000 –$286,200]

Remainder allocation to common stockholders=$133,800

Therefore the amount of dividends will common stockholders receive is $133,800.

Learn more about dividends here:brainly.com/question/14076997

8 0
2 years ago
Why is it important for the government to achieve these five objectives?
Lelu [443]

Answer: Equality

Without proper guidelines in place one would outweigh the other cause an imbalance. If the government didn't keep those equal there wouldn't be enough stability and nobody would be able to live fairly.

5 0
3 years ago
Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The nego
Assoli18 [71]

Answer:

Land $434,696

Land improvements $108,609

Building $1,720,600

   To Cash $2,263,905

(Being the amount paid in cash is recorded)

Explanation:

The journal entry is shown below:

Land $434,696

Land improvements $108,609

Building $1,720,600

   To Cash $2,263,905

(Being the amount paid in cash is recorded)

The land, land improvements and the building increases the assets so it is debited while the cash is credited as the cash is paid

The computation of the land is shown below:

= Purchase price of the land + purchase price for the old building + paid amount for tear down the old building + cost to fill and level the lot

= $224,000 + $119,000 + $37,000 + $54,696

= $434,696

7 0
3 years ago
Radoski Corporation's bonds make an annual coupon interest payment of 7.35% every year. The bonds have a par value of $1,000, a
mylen [45]

Answer:

The answer is 2.71 percent

Explanation:

The interest payment is annually.

N(Number of periods) = 12 years

I/Y(Yield to maturity) = ?

PV(present value or market price) = $1,470

PMT( coupon payment) = $73.5 ( [7.35 percent x $1,000)

FV( Future value or par value) = $1,000.

We are using a Financial calculator for this.

N= 12; PV = -1470 ; PMT = 73.5; FV= $1,000; CPT I/Y= 2.71

Therefore, the Yield-to-maturity of the bond annually is 2.71 percent

7 0
3 years ago
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