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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:

The correct answer is: decrease.

Explanation:

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In the example, Rollin's performance is likely to decrease according to the Hawthorne effect because no motivation factor pushes her to improve her productivity.

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3 years ago
In the systems approach to ob, person and situation factors are considered individual , while the three levels of analysis are c
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In the systems approach to ob, person and situation factors are considered individual, while the three levels of analysis are categorized as processes or inputs/outcomes.

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3 0
2 years ago
1. Hiram and Adasha both make meatloaf and bake bread. It takes Hiram three hours to bake six loaves of bread and two hours to m
mote1985 [20]

Explanation:

Help me answer this question please

8 0
2 years ago
Rye Company has provided the following information: Weighted average number of outstanding common shares, 196,000 Net income, $4
Sladkaya [172]

Answer:

Rye's earnings per share = $2.41 per share (Approx.)

Explanation:

Given:

Number of Average outstanding common share = 196,000

Net income =$470,400

Number of authorized common share = 395,000

Number of treasury shares = 24,000

Number of issued shares 220,000

Find:

Rye's earnings per share

Computation:

Earnings per share  = Net income / Number of Average outstanding common share

Rye's earnings per share = 472,400 / 196,000

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4 0
3 years ago
Presented below are three transactions. Mark each transaction as affecting owner's investment (I), owner's drawings (D), revenue
emmasim [6.3K]

Answer:

a. revenue (R), affecting owner's investment (I)

b. not affecting owner's equity (NOE)

c. expense (E) and affecting owner's investment (I)

Explanation:

Revenues and Expense form Profits which are included in the statement of changes in equity through the Retained Income line item, thus these two also affect owners investment.

7 0
3 years ago
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