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Mills Inc. had a receivable from a foreign customer that is due in the local currency of the customer (stickles). On December 31, 2008, this receivable for §200,000 was correctly included in Mills' balance sheet at $132,000. When the receivable was collected on February 15, 2009, the U.S. dollar equivalent was $144,000. In Mills' 2009 consolidated income statement, how much should have been reported as a foreign exchange gain?
what amount of gain or a loss did she experience on the 50,000 pesos she held during her visit and converted to u.s. dollars at the departure date?
The demand for the product in the local market may reach to a saturation level within 5 years of time, what are the plans before you, as a manager of the company, to implement in order to extend the life of the company.
Stock Options, Prepare the necessary entries from 1/1/10-2/1/12 for the following events using the fair value method. If no entry is needed, write "No Entry Necessary."
Determine the stakeholders impacted by audit reports. Analyze the impact of audit reports for each category of stakeholders.
The Big Corporation expects next year's net income to be $20 million. The firm's debt ratio is currently 30%. Big has $18 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio.
Three kilos of raw materials are needed to produce each unit of finished product. If Tripod Exports plans to produce 280,000 units during the 2008-2009 fiscal year, how many kilos of materials will the company need to purchase for its production d..
Tarrah Company's variable expenses are 72% of sales. The company's break-even point in sales is $2,450,000. If sales are $60,000 below the break-even point, the company would report a:
What are some examples of Toll Brothers' direct material, direct labor and overhead costs that they would incur in building their homes?
Distinguish between job costing and process costing. Describe the difficulties associated with each type. What can companies do in order to price products competitively and avoid some of these difficulties?
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.
If 16,000 units of materials enter production during the first year of operations, 12,000 of the units are finished, and 4,000 are 75% completed, the number of equivalent units of production would be 15,000.
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