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
Svetlanka [38]
3 years ago
13

On July 1, 2017, Mifflin Company borrowed 200,000 euros from a foreign lender evidenced by an interest-bearing note due on July

1, 2018. The note is denominated in euros. The U.S. dollar equivalent of the note principal is as follows: Date Amount July 1, 2017 (date borrowed) $ 225,000 December 31, 2017 (Mifflin’s year-end) 220,000 July 1, 2018 (date repaid) 210,000 In its 2018 income statement, what amount should Mifflin include as a foreign exchange gain or loss on the note?
Business
1 answer:
aleksandr82 [10.1K]3 years ago
8 0

Answer:

Mifflin should include $10,000 as a foreign exchange Gain

Explanation:

July 1, 2017 (date borrowed) $225,000

December 31, 2017 (Mifflin's year end) $220,000

July 1, 2018 (date repaid) $210,000

=$220,000-$210,000 = $10,000 Gain

You might be interested in
question 14(multiple choice worth 5 points) (04.02 mc) who was intended to benefit from the land act of 1800? a large-scale farm
oksano4ka [1.4K]

Since the government aimed to make westward migration more appealing to immigrants, "A poor family that coveted property" was primarily those who benefited.

Due to their inability to purchase a farm at an affordable price, many ended up squatting on public property without a valid title. The Harrison's Land Act of 1800 decreased the minimum purchase size from 640 acres to 320 acres and added a credit provision. A quarter of the total cost had to be paid up front, and the remaining amount had to be paid over the course of four years with an extra year added on for late payments.

To learn more about Land Act of 1800 here

brainly.com/question/697970

#SPJ4

5 0
9 months ago
In the long run, when marginal cost is above average total cost, the average total cost curve exhibits
serg [7]
The answer is B



Have a good day
6 0
3 years ago
Leisure Industries manufactures​ custom-designed playground equipment for schools and city parks. Leisure expected to incur $ 62
inn [45]

Answer:

Price= $85263,6

Explanation:

We need to calculate the price paid by the City of Hamptonville for playground equipment.

We know the following information:

Direct material= $13000

Direct labor= 160hours*$22hour= $3520

Manufacturing overhead: it is assigned on labor hours.

We need to calculate the value of manufacturing overhead.

Labor hours presupuested= $41800/$22hour= 1900hours

$/hour of manufacturing overhead= $627000/1900hours= $330

<u>Manufacturing overhead Job 309= 330*160hours= $52800</u>

Manufacturing cost Job 309= direct material + direct labor + Manufacturing overhead= 13000 + 3520 + 52800= $69320

Price=69320*1.23= $85263,6

6 0
3 years ago
Since 2008, Ben has owned all 100 outstanding shares of N and M Corporation’s stock. Ben’s basis for the stock is $50,000. In 20
FromTheMoon [43]

Answer:

A. $75,000 dividend

Explanation:

This is not  a capital gain as it do not come from the change in the value of the previously owned shares this are new shares.

The shares which N and M provide in favor to Ben are an stock dividend thus, the tax treatment should be of dividends as well.

6 0
2 years ago
What is a Benefit of using good human relations
nadezda [96]

Answer:

One of the benefits of using good human relations is that it will help you with your social skills and you will adjust better to different situations.

Explanation:

You can be good at social situations.

4 0
2 years ago
Other questions:
  • Ron shaich and his management team decided that after a period of expansion, perhaps some of the companies they had acquired or
    5·2 answers
  • Factors that affect the elasticity of demand for labor include all of these except:
    14·1 answer
  • The possibility that the failure of one bank can hasten the failure of other banks is called the:
    15·1 answer
  • Striker 44 Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the pro
    11·1 answer
  • Martin Company needs additional time to pay its accounts payable to Boster Company. Martin makes a written promise to pay Boster
    12·1 answer
  • Assume that the banking system has total reserves of $100 billion. Assume also that required reserves are 10 percent of checking
    12·2 answers
  • An internet service provider has three different subscription package for its customers:Package A: For $9.95 per month 10 hours
    6·1 answer
  • Which of the following statements is true? a. The higher the discount rate, the higher the present value. b. The process of accu
    14·1 answer
  • Alejandra is Calculating the nondurable goods value for 2017. She is calculating the value by using the quantity of each final n
    10·1 answer
  • Under the UCC Sales Article, which of the following statements is correct concerning a contract involving a merchant seller and
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!