Answer:
B. Credited Gain on fluctuation of foreign currency for $1,170
Explanation:
The journal entry to record the collection of foreign receivables is provided
Account Titles and Explanation Debit Credit
Cash 40,170
(3,900,000 * 0.0103)
Foreign reserve 39,000
(3,900,000 * 0.01)
Gain of fluctuation of foreign currency 1,170
(3,900,000 * 0.0003)
Hence, the correct option is Credited Gain on fluctuation of foreign currency for $1,170
When a person insured under a disability income insurance policy cannot, for limited period of time, perform all functions of his or her regular job duties, this is known as <u>Residual disability or Partial disability.</u>
"Residual disability" is the inability to do one or more job duties or to execute them as regularly as previously, along with a loss of pre-disability income.
Residual disability policies compensate based on lost income. These insurance offer benefits if you can work part-time and aren't entirely disabled. The benefit is dependent on your part-time income compared to your full-time salary.
Depending on the policy, a person receiving residual disability payments may receive a reduced benefit or none at all if her monthly income exceeds a specific proportion of pre-disability income. Some programs require entire disability before granting residual disability benefits. You can buy a residual policy as a stand-alone income replacement policy or as a rider on a total disability policy. Income replacement is cheaper than total disability. Partial and residual disability insurance are comparable. Both pay benefits if you can accomplish some job requirements.
To know more about Partial/Residual disability refer to:
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Answer:
$440,140
Explanation:
According to the accounting principle, the inventory should be valued at lower of cost or market value. The calculation is shown below:
Cost Market Lower value
Small $68,650 $56,490 $56,490
Medium $283,710 $237,140 $237,140
Large $146,510 $177,300 $146,510
Total $440,140
Hence, the ending inventory would be valued at $440,140
Answer:
(C) Higher.
Explanation:
The computation of the present value in both the cases are as follows:
In the first case
Given that
Assume the par value i.e. future value be $1,000
PMT = $1,000 × 9% = $90
RATE = 9%
NPER = 7
The formula is shown below
=-PV(RATE;NPER;PMT;FV;TYPE)
After applying the above formula, the present value is $863.09
In the second case
Given that
Assume the par value i.e. future value be $1,000
PMT = $1,000 × 9% = $90
RATE = 9%
NPER = 6
The formula is shown below
=-PV(RATE;NPER;PMT;FV;TYPE)
After applying the above formula, the present value is $876.66
So as we can see that the price of the bond would increased
Answer:
100 shirts
Explanation:
Borrowing from the contribution margin concept, the level where the marginal benefit is greater than total costs is the break-even point.
Break-even point = fixed cost / contribution margin per unit.
For this retailer,
Fixed costs are $500,
The contribution margin per unit = selling price- variable cost
=$10-$5
=$5
Break-even point
= $500/$5
= 100units
