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Georgia [21]
3 years ago
5

On December 31, 20X8, the end of its fiscal year, Domco had a foreign currency account payable with a settlement amount greater

than its previously recorded carrying amount. Which one of the following would Domco recognize for 20X8?A. No exchange gain or loss.B. Exchange gain.C. Exchange loss.D. Deferred gain.
Business
1 answer:
ehidna [41]3 years ago
5 0

Answer: 4.5%

Explanation:

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Martinez, Inc. reported net income of $2.5 million in 2007. Depreciation for the year was $160,000, accounts receivable decrease
n200080 [17]

Answer:

$2,730,000

Explanation:

Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.  

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $2,500,000

Adjustment made:

Add : Depreciation expense $160,000

Add: Decrease in accounts receivable $350,000

Less: Decrease in accounts payable -$280,000

Total of Adjustments $230,000

Net Cash flow from Operating activities             $2,730,000

8 0
3 years ago
The Denver Broncos hold a big pre-season football ticket blitz and sell $2.4 million worth of tickets for cash for the upcoming
Harrizon [31]

Answer:

Debit account receivable $2.4 million; Credit Ticket Revenue $2.4 million

Explanation:

Double entry is when a business records a debit and credit in relation to a transaction. Generally you debit the receiver and credit the giver.

In this instance sales of tickets were made by Denver Broncos of $2.4 million worth.

The sale involves receipt of cash, but it is preseason and customers have not yet received service so we debit accounts receivable for $2.4 million.

Revenue is made from the sale so we credit Ticket Revenue to recognise income made.

4 0
3 years ago
Read 2 more answers
Sharon purchases two products, X and Y, with a given fixed budget. The marginal utility she receives from the last unit of X she
Elanso [62]

Answer:

A) is maximizing her total utility from the given fixed budget.

Explanation:

The equal marginal principle refers to the principle in which the consumer would select that combination of goods which maximise its total utility. It could be selected by having marginal utility and its price

And for profit maximization, the marginal utility and the price is equivalent to both the goods.

i.e

\frac{MU_X}{P_X} = \frac{MU_Y}{P_Y}

\frac{60}{2} = \frac{30}{1}

30 = 30

Hence, the correct option is a.

5 0
3 years ago
If Bangladesh is open to international trade in oranges without any restrictions, it will ___________ tons of oranges. Suppose t
azamat

Question Completion:

Assume that the price per ton of oranges in the international market is $810 and equilibrium is established at the price of $900 for 120 tons.

Answer:

If Bangladesh is open to international trade in oranges without any restrictions, it will ____import____ tons of oranges. Suppose the Bangladeshi government wants to reduce imports to exactly 120 tons of oranges to help domestic producers. A tariff of ____$90____ per ton will achieve this.  A tariff set at this level would raise $___10,800______ in revenue for the Bangladeshi government.

Explanation:

A tariff of $90 per ton will raise the price of a ton of oranges to $900 ($810 per ton as indicated on the question).  When the price is raised to $900 in the domestic market, the quantity demanded will equalize with the quantity supplied at 120 tons.

5 0
3 years ago
Budgeting is much more difficult for an established business than it is for a new business.
dimulka [17.4K]
Answer: Your answer is true! C:
5 0
2 years ago
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