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velikii [3]
3 years ago
8

A foreign subsidiary of the Bart Corporation has certain balance sheet accounts on December 31, 20X2. Information relating to th

ese accounts in U.S. dollars is as follows:_________.
Restated at Current Rates Historical Rates
-Marketable (AFS and Trading) securities $ 75,000 $ 85,000
-Inventories, carried at average cost 600,000 700,000
-Refundable deposits 25,000 30,000
-Goodwill 55,000 70,000
Total: $755,000 $885,000
What total should be included in Bart's balance sheet on December 31, 20X2, as a result of the preceding information?
Business
1 answer:
Lelechka [254]3 years ago
7 0

Answer:

$885,000

Explanation:

How you are going to report the assets depends on whether you want to use the current rate method or the temporal (historic) method. Under the temporal method, you should use the historical rates, therefore, the total amount reported on the balance sheet is $885,000. if you want to use the current rate method, you should report the assets at $755,000, but you must also report an unrealized loss = $885,000 - $755,000 = $130,000 in the cumulative translation adjustment account. The total amount reported will not change, only the way you report it will change.

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Is this multiple choice, where are the answers to choose from?
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3 years ago
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Which of these describes one function of a household in the economy? buys finished products sells finished products taxes finish
Oksana_A [137]

The function of a household in the economy is the buys finished goods.

<h3 /><h3>How do household impact the economy?</h3>

Through their basic and daily needs for the maintenance of quality of life, families drive the economy through their purchase needs and desires, generating demand for products and services.

Therefore, households impact the economy by determining demand that will drive supply.

Find out more about demand here:

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3 0
1 year ago
Malaysia and Laos are members of the same trading bloc that promotes trade and economic integration among member nations in the
Mademuasel [1]

Answer:

The Association of Southeast Asian Nations (ASEAN)

Explanation:

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising of Singapore, Brunei, Malaysia, Thailand, Philippines, Indonesia, Vietnam, Laos, Cambodia, and Myanmar. It promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

3 0
2 years ago
A bond with a face value of $6,000 and an annual coupon rate of 12% convertible semiannually will mature in ten years for its fa
Alinara [238K]

Answer:

Premium is $2,677.95

The premium amortization on the 7th payment is $119

Explanation:

In order to arrive at the premium on the bond,it is necessary to compute the issuing price of the bond,which can be done using the pv formula in excel as shown below:

=-pv(rate,nper,pmt,fv)

rate is the semi-annual yield to maturity on the bond which is 6%/2=3%

nper is the number of coupon interest payable by the bond,which is 10 years multiplied by 2=20

pmt is the semi-annual coupon payable by the  bond i.e 12%/2*$6000=$360

fv is the face value of the bond which is $6,000

=-pv(3%,20,360,6000)

pv=$8,677.95  

premium=issue price -face value

premium=$$8,677.95-$6,000

premium=$2,677.95

The premium amortization is the excess of coupon payment  over the interest expense.

In the attached, I calculated the premium amortization on the 7th payment.

I started by taking the issue price of $8677.95 ,added interest expense at 3% semi-annually ,deducted the coupon payment of $360,thereby leaving the outstanding balance at end of the year.

Note that the premium amortization is the excess of coupon payment over interest expense as colored coded.

Download xlsx
5 0
3 years ago
At the end of Year 2, retained earnings for the Baker Company was $3,350. Revenue earned by the company in Year 2 was $3,600, ex
garik1379 [7]

Answer:

Retained earnings at the beginning of Year 2 is $2,950.

Explanation:

Given the following:

Retained earnings at the end of Year 2 = $3,350

Revenue earned by the company in Year 2 = $3,600

Expenses paid during the period = $1,900

Dividends paid during the period = $1,300

Retained earning for year 2 = Revenue earned by the company in Year 2 - Expenses paid during the period - Dividends paid during the period = $3,600 - $1,900 - $1,300 = $400

Retained earnings at the beginning of Year 2 can be using the following formula:

Retained earnings at the end of Year 2 = Retained earnings at the beginning of Year 2 + Retained earning for year 2 .......... (1)

Substituting the values into equation (1) and sole for Retained earnings at the beginning of Year 2, we have:

$3,350 = Retained earnings at the beginning of Year 2 + $400

Retained earnings at the beginning of Year 2 = $3,350 - $400 = $2,950

Therefore, retained earnings at the beginning of Year 2 is $2,950.

5 0
3 years ago
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