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Newberry, Inc., whose reporting currency is the U.S. dollar ($), has a subsidiary in Argentina, whose functional currency also i

Mnenie [13.5K]

Answer:

1. $46,000

2.$46,000

Explanation:

According to the scenario, computation of the given data are as follows,

Inventory price = 230,000 pesos

1. Consolidated balance sheet amount = Inventory price × Rate on November 1, 2017

= 230,000 × $0.20

= $46,000

2. Consolidated statement cost of goods sold for the year ending December 31, 2018 = Inventory price × Rate on November 1, 2017

= 230,000 × $0.20

= $46,000

3 0

3 years ago

Consumer spending is likely to rise when

WARRIOR [948]

Answer:

interest rates change! hope this helps! :)

Explanation:

5 0

3 years ago

Mary Graham worked as a real estate agent for Piedmont Properties for 15 years. Her annual income is approximately $100,000 per

brilliants [131]

Answer and Explanation:

The computation is shown below:

a. The pre tax accounting profit is

= Revenue - operating expenses - salaries - depreciation - interest on loan

= $2,000,000 - $250,000 - $1,500,000 - $5,000 - ($500,000 × 15%)

= $2,000,000 - $250,000 - $1,500,000 - $5,000 - $75,000

= $170,000

b. The pre tax economic profit is

= Revenue - operating expenses - salaries - foregone income - actual depreciation - interest on loan

= $2,000,000 - $250,000 - $1,500,000 - $100,000 - $20,000 - $75,000

= $55,000

The actual depreciation is

= $50,000 - $30,000

= $20,000

c. The explicit cost is the cost which includes wages & salaries, operating expense, depreciation expenses etc while the implicit cost includes the opportunity cost and annual depreciation cost

4 0

3 years ago

The economy of Baruchville contains 2000 $1 bills. 1. If people hold all money as currency, what is the quantity of money? 2. If

julia-pushkina [17]

Answer:

a) $2000

b) $2000

c) $2000

d) $20000

e) $11000

Explanation:

a) If people hold all money as currency:

Quantity of money = 2000 × $1 bills = $2000

b) If people hold all money as demand deposits and banks maintain 100% reserves:

Quantity of money = 2000 × $1 bills = $2000

c) If people hold equal amounts of currency and demand deposits and banks maintain 100% reserves

Since they are 2000 $1 bills and people hold equal amounts of currency and demand deposits and banks maintain 100% reserves, the 2000 $1 bills would be divided into two parts, one part for demand deposits and the other part for currency.

Therefore, demand deposits = 1000 × $1 bill = $1000

Currency = 1000 × $1 bill = $1000

Quantity of money = Currency + demand deposits = $1000 + $1000 = $2000

d) If people hold all money as demand deposits and banks maintain a reserve ratio of 10%.

Reserve ratio (r) = 10% = 0.1

Since people hold all money as demand deposits:

Therefore, demand deposits = 2000 × $1 bill × 1/r = $2000 × 1/0.1 = $20000

Quantity of money = Demand deposits × 1/r = $2000 × 1/0.1 = $20000

e) . If people hold equal amounts of currency and demand deposits and banks maintain a reserve ratio of 10%

Reserve ratio (r) = 10% = 0.1

Since they are 2000 $1 bills and people hold equal amounts of currency and demand deposits and banks maintain 100% reserves, the 2000 $1 bills would be divided into two parts, one part for demand deposits and the other part for currency.

Therefore, demand deposits = 1000 × $1 bill × 1/r = $1000 × 1/0.1 = $10000

Currency = 1000 × $1 bill = $1000

Quantity of money = Currency + demand deposit = $1000 + $10000 = $11000

6 0

4 years ago

On July 29, 2016, Wagner Trucking recorded $24,000 in services that they had performed but had not yet been paid by the customer

borishaifa [10]

Answer:

$24,000 = Account receivable

$24,000 = Account payable

Explanation:

Since it is given that

The service is performed of $24,000 but not paid by the customer so the same is to be recorded in the account receivable of the asset account

And, the Dixon trucking had the need to pay to their suppliers for $24,000 that is to be recorded in the account payable of the liabilities account

Both the amount is recorded as an account receivable and the account payable respectively

4 0

3 years ago