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Bogdan [553]
3 years ago
11

Parent Company's wholly-owned subsidiary, Son Corporation, maintains its accounting records in Danish krone. However, because al

l of Son's branch offices are in Sweden, its functional currency is the Swedish krona. Remeasurement of Son's 20X3 financial statements resulted in a $3,200 loss, and translation of its financial statement resulted in a $2,600 loss. What amount should Parent report as a loss in its income statement for the year ended December 31, 20X3?
Business
1 answer:
andreyandreev [35.5K]3 years ago
6 0

Answer:Nill

Explanation:

Foreign exchange transactions occur s between companies in different countries using different currency or a multinational company dealings with it's subsidiary.

However there is a difference between foreign exchange conversion and translation, conversion occurs as a result of selling or buying goods in foreign currency and the exchange rate has changed between the period of purchase and payment. In this situation the loss or gain are posted to the income statement.

Translation or remeasurement of financial position occurs at the year end especially to consolidate a subsidiary account by converting it's currency to the parent's company currency such difference are not posted to income statement but to the net assets.

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In Agile projects early risk planning, assessment and response planning is done at a high level, and more detailed and timely ri
kkurt [141]

Answer:

TRUE

Explanation:

Quick program management relates to the factors which determine the success or failures of a task. Risk assessment doesn't need to provide structured risk reports and reviews on agility programs. Risk management is integrated into scrum jobs, tools, and activities.

Agile risk assessment is achieved more by then describing activities. Several Agile methods search throughout the process to define and minimize the risks.

4 0
3 years ago
OK Dry-Cleaning advertises so effectively that the regular customers of its competitor, Purity Cleaners, patronize OK instead of
stepan [7]

Answer:

a. a lawful action that is not a tort.

Explanation:

A tort refers to some wrongful act or some infringement of any right which is other than under any  contract which leads to a legal liability. It is based on a civil law. People are liable for their actions taken against another both accidentally or intentionally.

In the context, the customers who is regular to Purity Cleaners tries to patronize or condescend OK Dry Cleaners instead of Purity Cleaners. This is lawful action, however not a tort.

8 0
3 years ago
Microhard has issued a bond with the following characteristics:
Aleks [24]

Answer:

At Yield to maturity = 11%

Price = $1,000

Explanation:

As for the provided information we have:

Par value = $1,000

Interest each year = $1,000 \times 11% = $110

Effective interest rate semiannually = 11%/2 = 5.5% = 0.055

Since it is paid semiannually, interest for each single payment = $110 \times 0.5 = $55 for each payment.

Time = 8 years, again for this since payments are semi annual, effective duration = 16

Price of the bond = C \times \frac{(1 - \frac{1}{(1+i^n)}) }{i} + \frac{M}{(1 + i)^n}

Here, C = Coupon payment = $55

i = 0.055

n = Time period = 16

M = Maturity value = Par value = $1,000

Therefore, if yield to maturity = 11% then,

P = 55 \times \frac{1 - \frac{1}{(1 + 0.055)^1^6} }{0.55} + \frac{1,000}{(1 + 0.55)^1^6}

= $1,000

7 0
3 years ago
The federal reserve's goal in managing the money supply is to ensure that money retains its value.
sattari [20]
The answer is B: False The Federal's Reserve goal is t<span>o provide the nation with a safer, more flexible, and more stable monetary and financial </span>system<span>.</span>
6 0
3 years ago
America spend the largest portion of their budget on___.
alexandr1967 [171]

Answer:

B) housing

Actually,  the biggest chunk of the average American's budget goes toward housing, which accounts for about 37% of take-home pay. Many people spend even more. In some circumstances, spending a lot on rent or a mortgage is unavoidable.

8 0
3 years ago
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