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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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In 2019, Bonita Industries sold 3000 units at $1000 each. Variable expenses were $700 per unit, and fixed expenses were $780000.
solniwko [45]

Answer:

Bonita’s break-even point in units for 2020 is 812.50 units.

Explanation:

Break-even point in units refers to the number of units of commodity that must sold by a company in order for its cost to be equal to revenue and therefore make no profit but also no loss. This can be determined for Bonita Industries as follows:

Selling price in 2020 = Selling price in 2019 * (100% - Percentage cut in selling price) = $1,000 * (100% - 40%) = $1,000 * 96% = $960

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Therefore, Bonita’s break-even point in units for 2020 is 812.50 units.

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3 years ago
Marcy and Liz developed a new jewelry design. They were fortunate to get the attention of a large online retailer who was willin
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3 years ago
ranfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,0
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It is a better deal to continue the backpack division active.

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