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trapecia [35]
3 years ago
11

Brief, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2017, Br

ief correctly included this receivable for 255,000 local currency units (LCU) in its balance sheet at $165,000. When Brief collected the receivable on February 15, 2018, the U.S. dollar equivalent was $177,900. In Brief's 2018 consolidated income statement, how much should it report as a foreign exchange gain
Business
1 answer:
Marina86 [1]3 years ago
8 0

Answer:

$12,900

Explanation:

Calculation for how much should it report as a foreign exchange gain

Using this formula

Foreign exchange gain=U.S. dollar equivalent- Local currency units (LCU)

Let plug in the formula

Foreign exchange gain=$177,900-$165,000

Foreign exchange gain=$12,900

Therefore the amount that should be reported as a foreign exchange gain will be $12,900

local currency units (LCU) in its balance sheet at $165,000. When Brief collected the receivable on February 15, 2018, the U.S. dollar equivalent was $177,900. In Brief's 2018 consolidated income statement, how much should it report as a foreign exchange gain

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Answer:

Physical surroundings.

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3 years ago
Define ethics, and describe the role that it plays in discretionary decision making. Give an example.
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Explanation:

Ethics can be defined as the study of the behaviors that guide human behavior, that is, society is developed through a set of moral behaviors that define its values ​​and its conception of which human behaviors and attitudes are positive or negative. Ethics then emerges as the standardization of these behaviors and moral values, it is a code of conduct for positive actions by man in society in all areas of life.

In discretionary decisions, in which there is a possibility of interpretation by the legislators, ethics appears as a normative instrument for the conduct of decisions, being a guide for the legislator to decide for what will have greater ethical value and benefits for society.

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3 years ago
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of ca
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Answer:

For now, it is better to keep producing in house. If demand increases, Pottery Ranch must outsource some of the production.

Explanation:

Giving the following information:

The variable manufacturing overhead is charged to production at a rate of 63% of direct labor cost. The direct materials and direct labor cost per unit to make a pair of finials are $3.51 and $4.73, respectively. Normal production is 28,300 curtain rods per year.

A supplier offers to make a pair of finials for $13.20 per unit.

Fixed costs are a sunk cost, therefore it is not taken into account.

Make in house:

Unitary cost= 3.51 + 4.73 + (4.73*0.63)= $11,22

Outsource:

Unitary cost= 13.20

For now, it is better to keep producing in house. If demand increases, Pottery Ranch must outsource some of the production.

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3 years ago
A number of studies examining the number of elderly adults with major ncd are not in agreement. explain at least three possible
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3 years ago
Ruskin has a $150,000 cash balance on both its ledger balance and its available bank balance. Of Ruskin receives a check and dep
Alex Ar [27]

If Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.

<h3>What is the float amount?</h3>

The float amount is the amount that a customer's account reads in the bank at a particular point in time.

The float amount is usually briefly counted twice due to time gaps in registering a deposit and processing the paper checks.

Thus, if Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.

Learn more about the float amount in the bank at brainly.com/question/24161262

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2 years ago
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