Answer:
Exchange Rate
Explanation:
In finance, an exchange rate is a rate at which a foreign exchange dealer converts one currency into another currency on a particular day. It is also related to the value of one country's currency to another currency.
Exchange rates can be either fixed or floating. Central banks of a country determine the fixed exchange rates and floating exchange rates are determined as a result of market demand and supply.
Answer:
Jay Pembroke Company
Balance Sheet as of April 30
Assets:
Cash $12,950
Accounts Receivable 2,000
Office Supplies 4,600
Prepaid Insurance 1,200
Total assets $20,750
Liabilities:
Accounts Payable $300
Jay Pembroke, Capital 20,450
Total liabilities + equity $20,750
Explanation:
a) Data and Calculations:
Assets:
Cash $12,950
Accounts Receivable 2,000
Office Supplies 4,600
Prepaid Insurance 1,200
Liabilities:
Accounts Payable $300
Statement of Owner's Equity:
Jay Pembroke, Capital 18,000
Net income 2,550
Jay Pembroke, Drawing (100)
Ending Capital 20,450
Income Statement for the month ended April 30
Service Fees 3,300
Rent Expense 750
Net income 2,550
Answer:
Price willing to pay = $2,060
Explanation:
Given:
Cash flow paid = $100
Growth rate (g) = 3% = 0.03
Discount rate (d) = 8% = 0.08
Find:
Price willing to pay
Computation:
Price willing to pay = [(100)(1+0.03)] / [0.08-0.03]
Price willing to pay = 103 / 0.05
Price willing to pay = $2,060
Answer:
Under NASAA's Statement of Policy on Dishonest or Unethical Business Practices of Broker/Dealers and Agents, which of the following is NOT considered when determining excessive trading in a client's account:
C) Length of association with the agent.
Explanation:
- NASAA stands for The North American Securities Administrators Association that ensure the safety of the investor.
- The option a, b and d are not correct as the Under the NASAA's statement of policy of dishonest or unethical business practices of broker/dealers and agents, investment objectives of the client, financial status of the client as well as the character of the account are considered.
- The option c is correct as length of association with the agent is not the concern of the NASAA so it is taken into the consideration.
Answer:
$ 15,480
Explanation:
Data provided:
Beginning merchandise inventory = $ 52000
merchandise purchased = $ 280000
Freight charges = $ 9000
Returned merchandise = 4000
Discounts provided = 2/10 = 0.2 = 2%
thus,
for purchase merchandise, total discount = (Purchased - returned) × 2% = = (280000-4000) × 0.2 = $ 5520
Thus,
the cost of goods available for sale = (Beginning merchandise inventory + merchandise purchased + Freight charges - Returned merchandise - Discounts provided )
or
the cost of goods available for sale
= $52000 + $280000 + $9000 - $4000 - $5520 ) = $ 331,480
Also, Cost of goods sold = $ 316000
Hence,
The ending inventory = cost of goods available for sale - Cost of goods sold or
The ending inventory = $ 331,480 - $ 316000 = $ 15,480