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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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The market value of the equity of Skipper, Inc., is $720,000. The balance sheet shows $46,400 in cash and $230,700 in debt, whil
shutvik [7]

Answer:

3.34 times

Explanation:

The market value of skipper incorporation is $720,000

The balance sheet shows a cash of $46,400 and debt of $230,700

The income statement has an EBIT of $103,700

The depreciation and amortization is $166,900

The first step is to calculate the enterprise value

= Market capitalization + debt - cash

= $720,000 + $230,700 - $46,400

= $904,300

The EBITDA can be calculated as follows

= EBIT + depreciation and amortization

= $103,700 + $166,900

= $270,600

Therefore the enterprise value-EBITDA can be calculated as follows

= 904,300/270,600

= 3.34 times

3 0
3 years ago
Mary beth is a high school senior. She made $2000 this summer working at a part time job. She opened up a Roth IRA to begin savi
Rasek [7]

R: Aggressive

<u>Explanation:</u>

Aggressive development is a common store speculation target that looks for high capital increase potential among development stocks, which are loads of organizations that are required to develop at a rate quicker compared to the general financial exchange. Forceful putting implies putting more in high hazard resources than okay resources.  

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8 0
3 years ago
Based on the weight of the consumer price index (CPI), the price of rental housing increases by 15% and that of owned housing by
Levart [38]

Answer:

D) all other factors being constant, it is likely the CPI would rise during the year in question.

Explanation:

The CPI measures the price of a basket of goods and that basket includes both housing expenses and gasoline, but housing expenses are "heavier" than gasoline (their relative weight on the CPI is much higher) because they represent a much larger portion of a household's income. It is common for a family to pay $1,000 (or much more) per month on rent or a mortgage, while how many people actually spend over $1,000 per month on gas?

4 0
3 years ago
Organizations periodically have an external entity review the controls so as to uncover any potential problems in the controls.
vivado [14]

Answer: information system audit

Explanation:

The information system audit is the process through which organizations periodically have an external entity which helps in reviewing the controls in order to uncover any potential problems in the controls

In order to know how effectivene the information system controls is, the information systems audit is vital. It is required to verify the accounting records of an organization as well as the financial statements.

8 0
3 years ago
. From the following list of account balances, calculate the correct amount of current liabilities: Accounts receivable $ 5,000
zhannawk [14.2K]

Answer:

The answer is A.

Explanation:

Current liabilities are the total amount of money due within a period of s year. Current liabilities must be repaid within a year(less than 12 months.

Current liabilities in this question are:

Payable. $5,300

Unearned revenue $900

Sales tax payable. $3,700

Estimated warranty payable $900

Note payable due in 90days $1,300

Total. $12,100

$12,100 is therefore the total current liabilities

6 0
3 years ago
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