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Neko [114]
3 years ago
13

Honk, Inc. a U.S. corporation, purchases weight-lifting equipment for resale from HiDisu, a Japanese corporation, for 60 million

yen. On the date of purchase, 110 yen is equal to $1 U.S. (¥110:$1). The purchase is made on December 15, 2018, with payment due in 90 days. Honk is a calendar year taxpayer. On December 31, 2018, the foreign exchange rate is ¥112:$1. On February 2, 2019, the invoice is paid when the exchange rate is ¥115:$1. What amount of foreign currency gain or loss, if any, mus
Business
1 answer:
Natali [406]3 years ago
3 0

Answer:

2018 Foreign currency gain $9,740.26 million

2019 Foreign currency gain $13,975.16 million

Explanation:

Calculation of foreign currency gain or loss for 2018

Total amount payable as at 15th Dec $545,454.55 million ($60 million/110)

Total amount payable as at 31st Dec $535,714.29 million ($60 million/112)

Foreign currency gain $9,740.26 million ($545,454.55-$535,714.29)

The amount payable based on 31st December year end exchange rate is lesser than on date of purchase which result in a gain for the company

Calculation of foreign currency gain or loss for 2019

Total amount payable as at 31st Dec $535,714.29 million ($60 million/112)

Total amount actually paid on 02nd Feb $521,739.13 million ($60 million/115)

Foreign currency gain $13,975.16 million ($535,714.29-$521,739.13)

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Josiah was managing a factory in India, and had a decision to make. The factory used child labor, which he disapproved of, but h
Marina CMI [18]

Answer: ethical dilemma                      

 

Explanation: In simple words, ethical dilemma refers to a condition in which an individual in authority have to make a choice of accepting one alternative over other in which none of the alternative is fully acceptable from the point of ethics.

In other words, it can be defined as a situation in which two principles of ethical psychology conflicts with each other. In these conditions, authority making the decision can never be fully ethical and have to give priority to one of the principles involved.

Hence from the above we can conclude that the given case depicts ethical dilemma.

5 0
3 years ago
Assuming everything else stays the same, an increase in the price of laptop computers will __________ of laptop computers. a) de
tia_tia [17]

Answer:

a) decrease the quantity demanded

Explanation:

According to the law of demand, an increase in the price of a good reduces the quantity demanded for that good.

8 0
2 years ago
Globalization is:
Karolina [17]

Answer:

d) making HR planning more critical and complex.

Explanation:

Globalization refers to the way of interacting with different people around the world in order to get healthy relationship for business purpose. Communication technologies become a helping hand to make globalization so easy and efficient.

Increase Globalization increase the practice of human Resource, in order to maintain the workforce in a more systematic way thus globalization make human resource planning more complex.

5 0
3 years ago
On January 15, the end of the first pay period of the year, North Company’s employees earned $26,000 of sales salaries. Withhold
Contact [7]

Answer: Please see the  explanation column

Explanation:

Journal entry to record North Company’s salaries expense and related liabilities.

Date            Particulars                        Debit                 Credit

Jan, 15 Sales salaries expense      $26,000

     To  FICA Social Security taxes

payable at 6.2%                                                                $1,612

     To FICA Medicare taxes

payable at 1.45%                                                                 $377

  To federal income taxes payable                                 $2,000

To employee medical insurance payable                           $429

To  employee union dues payable                                      $180

 Sales Salaries Payable                                                      $21.402

Working :

FICA Social Security taxes = 6.2% x $26,000 = $1,612

FICA Medicare taxes = 1.45% x 26,000 = $377

Salary payable =Sales salaries expense -(FICA Social Security taxes payable + FICA Medicare taxes payable + federal income taxes payable+medical insurance payable  +employee union dues payable  ) = 26,000 - (1612+377+2000+429+180)=$21,402.

6 0
3 years ago
Four students are storing this fact: "europeans first settled at st. augustine, florida, in 1565." which student is probably goi
Oksi-84 [34.3K]
The student who is probably going to have the most difficult time retrieving the information from long-term memory a few days later would be: “Alexander who repeats the fact to himself 10 times in a row.”  

<span>Aside from Alexander, all other students are using visual representation or other facts to help them remember the original fact.  The method of memorization Alexander doing is very prone to be overlooked since he is storing it word by word rather than trying to associate it with other easier things to remember.</span>

3 0
3 years ago
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