Answer:
The question is not complete:
On July 15, 2016, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market (¥104.91/$) and purchase a six-month forward contract ($0.0095320/¥1) to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months? (Round your answer to 2 decimal places. (e.g., 32.16))
The sum of $650,001.38 would be received in six months
Explanation:
In the first place by buying the yen in the spot market on July 15 ,2016, the amount of yen is computed thus:
$650,000 was at (¥104.91/$) ,which implies that each $ was exchanged for ¥104.91
yen received =$650,000*104.91/1
= ¥ 68,191,500.00
The six month forward contract outcome is as follows:
($0.0095320/¥1)
each Yen was exchanged $0.0095320
dollars received= ¥ 68,191,500.00 *0.0095320/1
=$650,001.38
Answer:
1. No, becuase someone could steal it.
2. No, becuase the fine you get for not paying a bill will grow.
Explanation:
Answer: b. pays cash before the expense has been incurred.checked
d. receives cash before the revenue has been generated
Explanation:
Here is the complete question:
Deferral adjustments are needed when the business:
a. pays cash after the expense has been incurred.unchecked
b. pays cash before the expense has been incurred.checked
c. receives cash after the revenue has been generated.unchecked
d. receives cash before the revenue has been generated.
Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.
Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.
Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.
When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.
Answer: Control activities
Explanation: In simple words, control activities refers to the policies and procedures that help the management to reduce the risk they have identified. These activities reports as a support structure for other operating activities of the business.
In the given case, hexa company has policies and procedures that supports managements initiatives. Hence the given case depicts the control activities element.
