Answer: What kind of exam is it? Study as long as you can if its flashcards or practice problems.
Explanation:
This is the best way to study
Answer:
Currency swap.
Explanation:
A currency swap is an agreement or a contract between the two parties. Involves the exchange of interest and sometimes of principal in one currency for the same in another currency. Interest payments are exchanged at fixed dates through the life of the contract.
It is considered to be a foreign exchange transaction and is not required by law to be shown on a company's balance sheet. Two parties exchange principal amount and interest that incur in different currencies. The dual purpose of a currency swap is to hedge exposure to exchange rate risk, or helps reduce the cost of borrowing a foreign currency.
Every person has its own individual way of reducing tension. It really depends on what kind of person you are. Some people find it hard to avoid such situations without alcohol, and some people help themselves by basic meditation. It is truly useful, just take a deep breath for several times and you will see that now its easier to think about all.
Answer:
Interest receivable $600
Explanation:
The interest is just for 9 months and the cash for the interest has not been received yet, so debit Interest Receivable.
Interest is calculated using the formula:
interest=Principal x rate x time
$16,000 x 5% x 9/12 = $600
Interest Revenue would be credited for $600, but that is reported on the Income Statement, not the Balance Sheet.
