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4 years ago

What was one of the lessons from this activity?

Business

1 answer:

Sladkaya [172]4 years ago

4 0

Answer:

I should pay off my smallest balance first. Then continue paying my smallest balances until I have paid all of my debt.

Explanation:

This is one of the lesson from the activity. That, loans and debts are important part of life of someone but the most important thing, is to remember to clear off those loans and debts. this could be done through the gradual payment till all the debts are cleared.

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On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 330,000 rubles in four mon

Yuliya22 [10]

Solution:

Date Account tides Debit (S in ruble) Credit (S in ruble)

and Explanation

Oct 1 Accounts receivable 96,600

Sales

( 210,000 ruble x $0.46) 96,600

Dec 31 Accounts receivable

( 50.49-50.46) x (210,000 ruble) 6,300

Foreign Exchange gain 6,300

Loss on forward contract 2079,21

Forward Contract

(50.52-50.51) x 210,000 ruble =2,100

2,100 x 0.9901= $2079.21 2079.21

Jan31 Accounts receivable (LC U) 4,200

Foreign exchange gain

(50.51-50.49) x 210,000 ruble 4200

Foreign currency 107,100

Accounts receivable

(596.600-56,300-54,200) 107,100

Cash 107,100

Foreign cuuency (LCU)

($0.51 x210.000 ruble) 107,100

6 0

3 years ago

Which of the following control procedures would most likely help assure that goods shipped are billed? a. Reviewing the sales jo

Temka [501]

Answer:

Examine shipping documents for matching sales invoices.

Explanation:

Sales invoice is provided by the seller and for shipped goods it is usually attached to the merchandise. If the auditor wants to know if the goods shipped are properly billed he will check the sales invoice to see if the goods supplied is the same quantity and type requested for. Also it is used to check if the correct amount is charged for the shipment.

In the case where there is discrepancy in any of the agreed terms, it is noted on the sales invoice and sent back to the seller to notify him of the discrepancy.

8 0

3 years ago

According to the Insurance Institute of America, a family of four spends between $400 and $3,800 per year on all types of insura

CaHeK987 [17]

Answer:

Explanation:

Mean can simply be define as the average of a set of numbers.

$400 and $3,800 per year is spends on all types of insurance.

A= 400

B= $3,800

Using the formula:

u = a+b/2

=$400 +$3,800/ 2

=$4,200 /2

=$2,100

Therefore the mean amount spent on the insurance is $2,100

5 0

4 years ago

Geary Co. assigned $1,600,000 of accounts receivable to Kwik Finance Co. as security for a loan of $1,340,000. Kwik charged a 2%

Sunny_sXe [5.5K]

Answer:

Option D is correct one.

<u>Debit to Allowance for Doubtful Accounts of $11,920</u>

Explanation:

Allowance for doubtful accounts $11,920 Debit

Accounts Receivables $11,920 Credit

7 0

4 years ago

The theory of constraints is a manufacturing strategy that focuses on reducing the influence of bottlenecks on a process. True F

Anton [14]

Answer: True

Explanation:

The theory of constraints (TOC) is a manufacturing strategy that focuses on reducing the influence of bottlenecks on processes involved in production of goods and seevices.

According to the theory if constraint, constraints affects the performance of firms and thus brings about a reduction in capacity and also the production of the product.

Therefore, the answer is true.

4 0

3 years ago