Answer:
Accounts Receivable (baht)
3,000
Foreign Currency Transaction Gain
3,000
Explanation:
U.S. dollar equivalent value: = $31,000/.031 = 1,000,000
$31,000 = Baht 1,000,000 x $.031 March 1 spot rate
$34,000 = Baht 1,000,000 x $.034 May 10 spot rate
$3,000 = Baht 1,000,000 x (.031 - .034) Gain
1 dollar = 34.66 thai baht
Answer:
Paid in capital excess of par is $$309,000
Explanation:
<u>Journal Entries</u>
Debt: Legal services (4,100 hours × $100 per hour) = $410,000
Credit: Common stock (101,000 shares × $1 par) = $101,000
Credit: Paid-in capital - excess of par (Remainder) = $309,000
To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)
In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.
Paid in capital excess of par is $$309,000
Answer:
Answered
Explanation:
Mr. Edwards, a marketing representative of the ACME Insurance Company, scheduled a marketing event and expects about 40 people to attend. He has hired a magician at a cost of $200 to entertain attendees
He can do this, because the estimated number of attendees is based on the venue size and response rate and the value of the gift does not exceed $15.
Answer:
The attached shows the journal entries in respect of Novark Corp. transactions for the month of October.
Every transaction has two impacts-debit and credit
Explanation:
Journal is a book of prime entry where transactions that cannot be posted to other books of original entry are treated.
Journal entry also observes the duality concept of accounting where each transaction in two accounts,for every debit,there is corresponding credit and vice versa.
Journal can also be used to correct errors made while posting to books of account.
Answer: jim already had a rigid opinion about what will work in the United States .
Superiority complex on the side of Jim.
Language barrier.
He is not impressed by the German outlook and dressing
Explanation:there are several barriers that may hinder the successful implementation of the new product line which has saved thousand of euros for the Germans,one is the fact that Mr jim already has a predisposed idea that the implementation will not work one can only wonder why he invited the German in the first place,it's obvious that the invitation if the German came from a higher pedestal and could be one if the reason Mr jim believes contrarily ,he believes innovation will not work in the USA,meanwhile ,world over , workers tend to resist change and innovation but there are a lot of measures to bring them to the table which include engaging them in every stageof the implementation , assuring them that there will be no job loss due to innovation,making them to see the advantages of the proposed changes to all.
The feeling of superiority to the Germans and their technology is very obvious ,ranging from the quiet disparaging of the visitors accent and pronounciation ,condemn his outfit rather than concentrating on what he has to offer ,he has a set mind ,which find everything about the Germans repulsive.it will be difficult to adopt the new technology with Jim at the helm of affairs at the Chicago plant .
