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alukav5142 [94]
3 years ago
7

The marketable securities were acquired for 1,000,000 pesos when the exchange rate was $1=20 pesos. Consolidated statements are

to be produced, and the current exchange rate is $1=25 pesos. Which of the following statements is true for the consolidated financial statements?Group of answer choicesA positive translation adjustment must be reported.No gain or loss will be reported.A remeasurement gain must be reported.A remeasurement loss must be reported.A negative translation adjustment must be reported.
Business
1 answer:
kiruha [24]3 years ago
3 0

Answer:

A negative translation adjustment must be reported.

Explanation:

Under the current rate method, the company must report a negative translation adjustment on a reserve account in the consolidated balance. This reserve account is included in the consolidated balance sheet as unrealized gains/losses.

The marketable securities were purchased at 1,000,000 / 20 = $50,000 (US dollars). But now they are worth only 1,000,000 / 25 = $40,000 (US dollars).

The reserve account of the consolidated financial statements should show a negative foreign currency translation adjustment equal to $10,000 (US dollars).

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Wyman Corporation uses a process costing system. The company manufactured certain goods at a cost of $800 and sold them on credi
Shtirlitz [24]

Answer:

Accounts receivable (Dr.)                          $1,075

                Sales revenue (Cr.)                                          $1,075

Cost of goods sold (Dr.)                                800

                Finished goods (Cr.)                                            800

where

Dr. = Debit

Cr. = Credit

Explanation:

The inventory account of a manufacturing firm has three sub-accounts: Raw materials, Work-in-process, and Finished goods. The goods purchased by the company were sold without any work done. It means that they were purchased in finished form, so, the company will record these goods in its finished goods inventory. When goods are sold, we have to record sales and receivable. AND on the same time, under perpetual inventory system, the cost of goods that are sold and inventory account are also adjusted to reflect the changes.

7 0
4 years ago
Read 2 more answers
Why it it not working the app?
luda_lava [24]

1,2,3,6

this is what i would choose of course

not sure how to explain it though

6 0
1 year ago
Companies that have paid out millions of dollars as a result of discrimination lawsuits include: A. Target and Honda B. Wal-Mart
snow_lady [41]

Answer:

B. Wal-Mart and Texaco.

Explanation:

When labors or workers believe that they treated unfair they can react by leaving the organization or in an extreme case filing a lawsuit. Corporations have to spend millions of dollars for settlement of discrimination lawsuits. An average settlement for such lawsuit can be $45,000 and in greater cases it could reach to $1 million. Wal-Mart and Texaco companies have also faced such lawsuits and spent millions of dollars for the settlement.  

4 0
4 years ago
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Which strategy requires a high level of understanding of what consumers value? Multiple Choice Leadership-Focus Focused-Differen
dmitriy555 [2]

Answer:

The correct option is Focused-differentiation

Explanation:

Focused-differentiation is  a  competitive strategy that portrays a product or service as uniquely valued,hence the customers are willing to pay higher price in return for its distinguishing characteristics

Leadership-focused is about striving to be the leader in a particular market based on either cost leadership or being the leader at offering the best in class product

Cost-focus differentiation is when a producer aims at lowest cost as well as being a unique producer of best quality

Cost leadership is about being the first to reckon with when it comes offering the most competitive price.By selling at lower prices, the company is able to appeal to customers of competing brands.

8 0
3 years ago
Authorized and available shares Aspin​ Corporation's charter authorizes issuance of 2 comma 700 comma 000 shares of common stock
Mama L [17]

Answer:

$1,200,000

Explanation:

The computation of the maximum number of new shares of common stock is shown below:

= Total authorized shares - total outstanding shares

= $2,700,000 - $1,500,000

= $1,200,000

We simply subtract the total outstanding shares from the total authorized shares, so that the maximum number of shares could find out.

All other information which is given is not relevant. Hence, ignored it

4 0
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