1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lapatulllka [165]
4 years ago
8

Packet Corp. is in the process of preparing its financial statements for the year ended December 31, 20X1. How would a gain on r

emeasuring a foreign subsidiary's financial statements from the local currency into the functional currency that occurred during 20X1 be classified in these financial statements?
Business
1 answer:
Kisachek [45]4 years ago
4 0

Answer:

It should be classified as income from continuing operations which should be disclosed separately.

Explanation:

According to FASB ASC 830-30-45-17 and 830-30-45-18:

All gains or losses from remeasurements of monetary assets and liabilities need to be recognized income or losses in the current financial statements. The changes have to be disclosed separately in order to provide an analysis of the changes and how they affect the financial statements.

You might be interested in
Credit cards are different from debit cards because
Rzqust [24]
Debit cards are used to pay for goods in shops and to withdraw money at cash machines. The money is automatically taken from your current account when you spend it, so you must have enough money in your account or an agreed overdraft to cover the transaction.

Where as..
A credit card, such as Barclaycard, isn't linked to your current account and is a credit facility that enables you to buy things immediately, up to a pre-arranged limit, and pay for them at a later date. The cost of the purchase is added to your credit card account and you get a statement every month.
5 0
4 years ago
I need help with Question B5 (a) short essay. im completely lost please help me :(
xeze [42]
In xigift try i jkyukuo
6 0
3 years ago
On jan 15 ABC Co sold a piece of land for 4000 when the original cost of the land was 4000. show how to journalize the transacti
Murljashka [212]

The correct actions to show the journalized transaction of the sale of the piece of land by ABC Co. are:

  • 1. 4,000 is entered in the cash dr column
  • 2. sold land is entered in the explanation column
  • 3. 4,000 is entered into the other accounts cr column
  • 4. land is entered into the accounts credited column

<h3>How to record the sale of the land?</h3>

When land is sold, as ABC Co just did, the cash account is to be debited by the amount the land was sold for. This is because cash is increasing from the sale and so, like normal assets, will be debited to show an increase.

Land will be credited with the value of the land which is $4, 000. This shows that the land is no longer owned by the company and like other assets, when an asset leaves a company, it is credited.

Find out more on recording the land at brainly.com/question/20714023

#SPJ1

4 0
1 year ago
There are two people in the economy: Martha and Charlie. There are two goods in the economy: books and wine. Martha is endowed w
balu736 [363]

Answer:

Charlie consumes 100 books and 25 wines at pareto-optimal allocation, is the right answer.

Explanation:

According to the question, book is denoted with b whereas, wine is denoted with w.

The Utility function of Martha is-  U\left ( b,w \right )=6b+24w

The Utility function for Charlie is- U\left ( b,w \right )=bw

P_{b} = $1 : P_{w} = $4

At pareto-optimality,

MRS_{bw}=\frac{P_{b}}{P_{w}}\\\frac{w}{b}=\frac{1}{4}\\4w=b\\

The budget constraint,

1.b+4.w=m=1\left ( 20 \right )+4\left ( 45 \right )\\b+4w=20+180\\4w+4w=200\\w=\frac{200}{8}=25\\\therefore b=100

Therefore, it may be said that Charlie must consume 100 books and 25 wine at pareto-optimal allocation.

3 0
4 years ago
Because the fruit bowls were new to the market, dole's initial advertising objectives focused on ______ its audience about the p
Ronch [10]
Because the fruit bowls were new to the market, dole's initial advertising objectives focused on informing its audience about the product. When a new company or product launches, the goal is to get the consumer base aware that it exists. To bring awareness to the product, the advertising team has to inform the consumers what the product is and where they can find it. 
5 0
3 years ago
Other questions:
  • Challenger Factory produces two similar products: regular widgets and deluxe widgets. The total factory overhead budget is $675,
    9·1 answer
  • All of the following are true regarding social security except
    9·1 answer
  • What is a major purpose of patents, trademarks, and copyright protections in a capitalist society?
    11·1 answer
  • As long as total utility is increasing, we know that marginal utility is:
    9·1 answer
  • (TCO E &amp; F) A bank is facing a forecast of rising interest rates. How should they set the repricing and duration gap?
    6·1 answer
  • A company reports the following: Sales $4,560,000 Average accounts receivable (net) 380,000 Determine (a) the accounts receivabl
    9·1 answer
  • When a negative externality​ exists, the private market produces A. products at a high opportunity cost. B. products at a low op
    12·1 answer
  • 4. You sold a futures contract for GBP10,000 at $1.50/GBP. Suppose that the futures price at settlement was $1.30. How much woul
    7·1 answer
  • Mullis Company sold merchandise on account to a customer for $1,045, terms n/30. The journal entry to record this sale transacti
    10·1 answer
  • Which of the following phrases best summarizes Chapter 7 bankruptcy? a. Discharge debt and keep property b. Discharge debt and l
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!