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Sholpan [36]
3 years ago
8

Under the gold standard the fixed price of gold was $20.67 per ounce in the United States. The fixed price of gold was £4.2474 p

er ounce in Britain.
a. What is the "fixed" exchange rate (dollars per pound) implied by these fixed gold prices?
b. How would you arbitrage if the exchange rate quoted in the foreign exchange market were $4.00 per pound? (Under the gold standard, you could buy or sell gold with each central bank at the fixed price of gold in each country.)
c. What pressure is placed on the exchange rate by this arbitrage?
Business
1 answer:
madam [21]3 years ago
6 0
The answer of the question is b
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Cadence calls are critical to a functioning CPFR relationship.
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Last year, Kurt invested $1,000 in ABC stock, $1,000 in long-term government bonds, and $1,000 in U.S. Treasury bills. Over the
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6%

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f the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculat
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arc price elasticity = -1.64

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arc price elasticity = (change in quantity x average price) / (change in price x average quantity)

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7 0
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At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 918,000 Credit sales 31
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Answer:

The journal entries are as follows:

(a) 5% of credit sales,

Bad debts expense A/c Dr. $15,900

       To Allowance for doubtful accounts   $15,900

(To record the bad debt expense)

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= 5% × Credit sales

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= $15,900

(b) 3% of total sales,

Bad debts expense A/c Dr. $37,080

       To Allowance for doubtful accounts   $37,080

(To record the bad debt expense)

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= 3% × Total sales

= 3% × ($318,000 + $918,000)

= $37,080

(c) 8% of year-end accounts receivables,

Bad debts expense A/c Dr. $18,240

       To Allowance for doubtful accounts   $18,240

(To record the bad debt expense)

Workings:

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= (8% × $143,000) + $6,800

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3 years ago
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