<span>Direct competitors of NIKE can include ADIDAS and REEBOK. Indirect competitors of NIKE can include POLO and SEAN JOHN.</span>
Answer: $1639.3
Explanation:
From the question, we are informed that Bank A quotes a bid rate of $0.300 and an ask rate of $0.305 for the Malaysian ringgit (MYR) and that bank B quotes a bid rate of $0.306 and an ask rate of $0.310 for the ringgit.
The profit for an investor that has $500,000 available to conduct locational arbitrage goes thus:
Purchasing Malaysian ringgit (MYR) from bank A at the ask rate will be:
= $500,000/$0.305
= 1,639,344.3
Selling the Malaysian ringgit (MYR) at bank B based on the ask rate will be:
= 1,639,344.3 × 0.306
= $501,639.3
The profit for an investor that has $500,000 available to conduct locational arbitrage will be:
= $501,639.3 - $500,000
= $1639.3
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Answer: Closing entries: <u>" must be journalized and posted ".</u>
Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.
Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.
Answer:
$20,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
However, in the direct writeoff method, estimates of uncollectible receivables are posted directly into the accounts receivable and not into the allowance account.
The amount in the accounts receivable before write off
= $150,000 - $83,000
= $67,000
Amount written of is $20,000, this will be posted as a debit to bad debt expense and a credit to accounts receivable.
