Fleming corp. provided services on account. The transaction would be recorded with a credit to service revenue. The transaction will also be recorded on the accounts receivable ledger as well. Service revenue is an account used in accrual accounting that reports fee income that a company earns during a specific time frame. Accounts receivable is an account that shoes money that is owed to a company by its debtors.
Answer:
b. Buy £1,000,000 forward for $1.50/£.
Explanation:
Let's say for instance, we agree to make purchase of €1,000,000 and then forward for $1.50/€ and we assume that the price turns out to become $1.62/€ in three months time, the expected profit will be $12,000 = €1,000,000 ($1.62 - $1.50)As we can see, answer d looks convincing from an accounting standpoint, but it is wrong because the question asks us to make money with a forward contract, not by holding a particular spot. The correct option should be option b.
Answer:
Explanation:
The total assets comprises of current assets, fixed assets ,and the intangible assets
The current assets includes cash, stock, account receivable, etc
Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, goodwill, etc.
The preparation of the classified balance sheet for Nike, Inc on May 31, 2022 is presented in the spreadsheet. Kindly find the attachment below:
Answer:
Yield to maturity is 1.51%
Explanation:
Zero Coupon rate does not offer any coupon payment and it is issued at deep discount value.
Face value = F = $100
Price = P = $98.50
Year to mature = n = 1 year
Yield to maturity = ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = ( $100 - $98.5 ) / 1 ] / [ ( $100 + $98.5 ) / 2 ]
Yield to maturity = $1.5 / 99.25
Yield to maturity = 0.0151
Yield to maturity = 1.51%
Answer:
![\frac{1}{17}](https://tex.z-dn.net/?f=%5Cfrac%7B1%7D%7B17%7D)
Explanation:
Let D be the event that the lost card is a diamond
and D' be the event that the lost card is a non diamond
Therefore,
P(D) =
= 0.25
P(D') =
= 0.75
Now,
Event that the cards picked up are both diamonds = A
Thus,
P( A | D) =
[ As One Diamond Card is lost ]
And,
P(A | D') =
[ As One Non-Diamond card is lost ]
Therefore,
P(A) = P(D) × P(A | D) + P(D') × P( A | D')
= 0.25 ×
+ 0.75 × ![\frac{13}{51}\times\frac{12}{50}](https://tex.z-dn.net/?f=%5Cfrac%7B13%7D%7B51%7D%5Ctimes%5Cfrac%7B12%7D%7B50%7D)
= ![\frac{1}{17}](https://tex.z-dn.net/?f=%5Cfrac%7B1%7D%7B17%7D)