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Natali5045456 [20]
3 years ago
11

Merchant Company had the following foreign currency transactions: On November 1, 20X6, Merchant sold goods to a company located

in Munich, Germany. The receivable was to be settled in European euros on February 1, 20X7, with the receipt of €190,000 by Merchant Company. On November 1, 20X6, Merchant purchased machine parts from a company located in Berlin, Germany. Merchant is to pay €95,000 on February 1, 20X7. The direct exchange rates are as follows: November 1, 20X6 €1 = $ 0.60 December 31, 20X6 €1 = $ 0.62 February 1, 20X7 €1 = $ 0.58 Required: Record the T-accounts for the following transactions (Record the transactions in the given order.) The November 1, 20X6, export transaction (sale). The November 1, 20X6, import transaction (purchase). The December 31, 20X6, year-end adjustment required of the foreign currency–denominated receivable of €190,000. The December 31, 20X6, year-end adjustment required of the foreign currency–denominated payable of €95,000. The February 1, 20X7, adjusting entry to determine the U.S. dollar–equivalent value of the foreign currency receivable on that date. The February 1, 20X7, adjusting entry to determine the U.S. dollar–equivalent value of the foreign currency payable on that date. The February 1, 20X7, settlement of the foreign currency receivable. The February 1, 20X7, settlement of the foreign currency payable.

Business
1 answer:
vazorg [7]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in the images below.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a 2 sheets with the formulas indications.  

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Which is a helpful resource for you during the process of buying a home? A. Realtors B. Local programs C. Government programs D.
Klio2033 [76]

Answer:

A. Realtors

Explanation:

A realtor is a professional who helps clients buy and sell properties.  Realtors are registered by the National Association of Realtors (NAR) and licensed to practice by their local authorities.

Realtors work for real estate companies. They may be real estate agents, salespeople, residential and commercial real estate brokers, property managers, or appraisers. Since they are recognized by law, and their work revolves around properties, realtors stand in a better position to assist someone buying a house.

3 0
2 years ago
Vasco Company purchased equipment on January 1, 2001 at a purchase price of $50,000. Vasco paid $2,500 in shipping costs on the
Lynna [10]

Answer:

The amount of depreciation expense is $3,871.86.

Explanation:

Sum-of-the-years digits method is determined by: (Remaining useful life/Sum of the years' digits) x Depreciable cost.

Depreciable cost = Cost - Salvage value

Depreciable cost = $50,000 + $2,500 - $5,000 = $47,500

Insurance premium is usually for a period of 1 year. This will be treated as prepayment instead of being added to the cost of the equipment. Shipping cost is added based on the recommendation of IAS 16 Property, Plant and Equipment.

Depreciation expense = 6/21 x $47,500 = $13,571.43 for Year 2001

Depreciation expense = 5/21 x $47,500 = $11,309.52 for Year 2002

As at December 2002, the accumulated depreciation will be $13,571.43 + $11,309.52 = $24,880.95; so, net book value is $52,500 - $24,880.95 = $27,619.05.

Change in estimate: 8/55 x $27,619.05 - $1,000 = $3,871.86.

55 = 10+9+8+7+6+5+4+3+2+1

7 0
3 years ago
Which of the following is false? Economists who advocate discretionary monetary policy argue that it is more likely to achieve t
just olya [345]

Answer: None of the above

Explanation:

All of the above are correct.

For option A, Economists who advocate discretionary monetary policy do indeed believe that the monetary authority using this policy is more flexible to shape the best monetary policy to the existing circumstances.

Option B is also correct because Crowding out occurs when the government increases investment by borrowing which leaves less money for the private sector to borrow so they spend less. The government spent money here yet the private sector did not spend less so it is Zero Crowing out.

Option C by option B's explanation holds true because the entire amount the Government increased by was denied the private sector.

Option D is also true as not all Economists prefer rule-based monetary policy to discretionary monetary policy.

They are all true.

3 0
3 years ago
A salamander relies on hydrogen bonding to stick to various surfaces. therefore, a salamander would have the greatest difficulty
Leni [432]

A salamander relies on hydrogen bonding to stick to various surfaces. therefore, a salamander would have the greatest difficulty clinging to a <u>surface of hydrocarbons</u><u>.</u>

<h3>What is a hydrogen bonding?</h3>

It refers to the interaction involving a hydrogen atom located between a pair of other atoms having a high affinity for electrons, such bond are weaker than an ionic bond or covalent bond but stronger than van der Waals forces.

They can exist between atoms in different molecules or in parts of the same molecule. One atom of the pair such as a fluorine, nitrogen or oxygen atom, is covalently bonded to a hydrogen atom whose electrons it shares unequally.

Read more about hydrogen bonding

brainly.com/question/12798212

#SPJ1

4 0
2 years ago
Abby can purchase a secondary data to report for $500 or create primary data by surveying 300 people at a cost of $1.33 person.
saul85 [17]

Answer:

1.33 a person

Explanation:

look at it nownejssj

6 0
3 years ago
Read 2 more answers
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