1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
alexandr402 [8]
3 years ago
14

Certain balance sheet accounts of a foreign subsidiary of the Rose Co. had been stated in U.S. dollars as follows: Stated at Cur

rent Rates Historical Rates Accounts receivable—current $ 280,000 $ 308,000 Accounts receivable—long term 140,000 154,000 Prepaid insurance 70,000 77,000 Goodwill 112,000 119,000 Totals $ 602,000 $ 658,000 ​ If the subsidiary's local currency is its functional currency, what total amount should be included in Tulip's balance sheet in U.S. dollars? $658,000. $609,000. $616,000. $602,000.
Business
1 answer:
NISA [10]3 years ago
6 0

Answer:

$602,000

Explanation:

Since the foreign currency is the functional currency in this case, what is required to be done is the translation of the balance sheet accounts, not a remeasurement of the accounts.

The guiding principle is that when the financial statement of subsidiary is prepared using functional currency, assets and liabilities should be translated using the current rates.

Since $602,000 is the total using the current in the question, the total amount that should be included in Tulip's balance sheet in U.S. dollars is therefore $602,000.

You might be interested in
b. If foreigners spend $7 billion on U.S. exports in a given year and Americans spend $5 billion on imports from abroad in the s
LiRa [457]

Answer:

$2 billion

Explanation:

Foreigners spend $7 billion on U.S net exports

Americans spend $5 billion on imports

Therefore the value of U.S net exports can be calculated as follows

= $7 billion-$5billion

= $2 billion

Hence the value of U.S net exports is $2 billion

7 0
3 years ago
The act of influencing others to accomplish an objective is typically seen in which of the following environments? a. Business e
Juli2301 [7.4K]

Answer:

D- All of the above

Explanation:

Edg. 2021, took the test and got 100 percent

3 0
3 years ago
Margarite's Enterprises is considering a new project that will require $345,000 for new fixed assets, $160,000 for inventory, an
atroni [7]

Answer:

NPV = (53,222.44)

Explanation:

Net fixed asset                              345,000

Working capital

160,000 inventory + 35,000 Ar =   195,000

short term deb                                 (110,000)

net working capital                           85,000

Total investment                            430,000

salvage value 345,00 x 25% = 86,250

release of the working capital  85,000

Cash flow at end of project      171,250

annual cash flow

sales             550,000

cost              (430,000)

depreciation    69,000

EBT                   51,000

tax expense 35%

                        (17,850)

net income       33,150

+ dep                 69,000

cash flow           102,150

Now we calculate the present value of the net cash flow and the present alue fothe end of the project

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 102150

time 4

rate 0.15

102150 \times \frac{1-(1+0.15)^{-4} }{0.15} = PV\\

PV $291,636.04

\frac{Principal}{(1 + rate)^{time} } = PV  

Principla (sum of salvage and released Working capital   171,250.00

time   5.00

rate   0.15

\frac{171250}{(1 + 0.15)^{5} } = PV  

PV   85,141.52

NPV = 291,636.04 + 85,141.52 - 430,000 = (53,222.44)

6 0
3 years ago
What are the benefits of naming a secondary beneficiary in a will? Check all that apply. It could prevent a will from going into
Gnom [1K]

Answer:

• It could prevent a will from going into probate

•It avoids confusion if the primary beneficiary on dies first

•It allows for another option if the primary beneficiary cannot inherit it

Explanation:

A Secondary beneficiary otherwise known as contingent beneficiary is a person or an entity who has been named in a Will, insurance policy or trust to inherit assets therein should the main or primary beneficiary dies before the grantor.

Secondary beneficiary is important because should the primary beneficiary dies first, he is entitled to the benefits therein inorder to avoid confusion as to who should inherit the deceased's assets. It is also important because it provides other option where the primary beneficiary is not able to inherit the will i.e not found at the time of grantor's death or disclaim inheritance in the will, the secondary beneficiary inherits same and also prevent the will from going into probate i.e allowing it to pass through the court process which is oftentimes time consuming .

7 0
3 years ago
As the owner of a women's clothing store, Caroline Lipscomb has an income of $75,000. She pays $30,000 per year in taxes and ano
Goshia [24]

Answer:

28,000

Explanation:

3 0
3 years ago
Other questions:
  • In order for the United States to have a treaty with a foreign country the
    9·2 answers
  • In the last several years, the Western part of the United States has faced severe drought conditions with a lack of rain in stat
    5·1 answer
  • PLEASE HELP, ILL GIVE BRAINLIEST IF IT'S RIGHT. 35 POINTS! the answer isnt C!
    15·2 answers
  • ABC Corporation distributes property to its sole shareholder, Andre. The property has a fair market value of $350,000, an adjust
    14·1 answer
  • Flannigan Company manufactures and sells a single product that sells for $620 per unit; variable costs are $372. Annual fixed co
    9·1 answer
  • The Sarbanes-Oxley Act: A. substantially increases the penalties for corporate wrongdoing. B. gives corporations greater freedom
    12·2 answers
  • Suppose a handbill publisher can buy a new duplicating machine for $500 and the duplicator has a 1-year life. The machine is exp
    9·1 answer
  • Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because t
    14·1 answer
  • The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $110 Mar. 10 Purchase 60 u
    14·1 answer
  • Top executives at McCain Ericsson Bank have taken up business process reengineering to improve the standards of the organization
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!