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frutty [35]
3 years ago
8

On November 30, 2020, a U.S. company purchased merchandise on credit from a Swiss supplier at an invoice price of CHF1,000, when

the exchange rate was $1.05/CHF. On December 31, 2020, the company's year-end, the exchange rate was $1.045/CHF. On February 1, 2021, the company purchased the CHF1,000 for $1.048/CHF and paid the invoice. On March 15, 2021, when the exchange rate was $1.044, the company sold the merchandise to a U.S. customer for $2,000.
At what amount should the merchandise be reported on the U.S. company's December 31, 2020 balance sheet?

a. $1,044
b. $1,050
c. $1,048
d. $1,045
Business
1 answer:
Ivanshal [37]3 years ago
5 0

Answer:

The merchandise should be reported on the U.S. Company's December 31, 2020 balance sheet at:

b. $1,050

Explanation:

a) Data and Calculations:

November 30, 2020 Inventory purchase = CHF1,000

Exchange rate on this date = $1.05/CHF

Inventory worth = $1.05 * CHF1,000 = $1,050

b) The inventory should be reported on December 31, 2020 at $1,050.  It does not need to be reported at a value above or below this.  Even, the debt owed to the Swiss supplier will be reported at this price.  It is when payment for the invoice is being made on February 1, 2021 that consideration will be given to the exchange rate at which payment is made.

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Answer:

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Option c is the correct answer

Explanation:

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7 0
3 years ago
The operations of Knickers Corporation are divided into the Pacers division and the Bulls division. Projections for the next yea
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Answer:

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Explanation:

If Bulls Division were dropped, then the total segment margin would be $147,000 and the total common cost would be $110,250, Then:

Operating income = Segment margin - Total cost

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Therefore, The Operating income for Knickers Corporation as a whole if the Bulls division were dropped would be $36,750.

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Answer:

a. Make each sub-point exclusive

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Outline is a type of table of content that helps a reader to understand the scenario of the overall article or piece. Making an effective outline is a challenging task. However, the following things certainly can make an effective outline.

Putting the main idea in the title is one of them. Under the title, break the topic or title into major components (Option F). Using sub-points make the piece more relevant (Option A). Besides, moving sub-points to larger group or components make the article beautiful (Opposite of Option B). Do not separate the main topic from the title make an outline unclear (Opposite of Option D).

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galben [10]

Answer:

c. Normative ethics

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Answer:

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