Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
(a) Describe the concepts of functional and presentational currencies in the context of accounting for overseas operations.
(b) Broome Ltd established an overseas subsidiary on 1/7/2011 with FC100 000 capital. Cash of FC100 000 was the only asset on 1/7/2011. In the year ended 30/6/2012, profit ofFC45 000 was made and the statement of financial position showed thefollowing:
Machinery FC100 000
Inventory20 000
Receivables16 000
Cash9 000
Total assets145 000
Capital100 000
Retained earnings 45 000
145 000
On 1/7/2011, the exchange rate was A$1 = 2FC; on 30/6/2012 the rate was A$1 = 2.5FC; the average rate for 2011/2012 was A$1 = 2.25FC. The functional currency is the foreign currency.
Translate the profit of FC45 000 and the statement of financial position into Australian dollars. Explain the nature of the balancing item foreign exchange gain.
how you report equipment that cost $27,000 with accumulated depreciation ot $25,000 sold at a gain of $10,600 on a indirect cash flows statement?
Explain why some accountants want to record R&D expenditures as an asset on acquisition. Under what authority can accountants record R&D as an asset?
Art plans to leave the profits in the business for several years, sell the business, and retire. Would you advise art to incorporate the business or operate it as a sole proprietorship? Provide reasons for your answer.
identifying the relavant costs from the given data.a number of costs are listed below that may be relevant in decisions
required write a report to the client geolab exploration limited which covers the followinga. a two-column common-size
classify and report the cash flow operations.for each of the following items indicate whether it would be classified
Problem being, over the last five years, they never used 100% of that budget. What steps would you take to help that manager come to a more realistic budget?
Illustrate what are the consequences of not telling the president of our gross miscalculations, both ethical and non-ethical? Are there other ethical implications or issues that you and the president need to consider in this situation?
a. if the project is undertaken at t 0 the company will need to increase its inventories by 50000 and its accounts
1. chapters 15 stockholders equityreview your sec 10-k report and analyze the balance sheet statement of owners equity
its expected life is eight years.Instructions Compute depreciation expense for 2010 and 2011 by each of the following methods,showing the figures used. (a) Double-declining balance (b) Sum-of-the-years'-digits
Average Product APL 1 2 3 4 5 6 7 8 9 10 ` B. Plot the (i) total product, (ii) marginal product, (iii) average product functions. C. Determine the boundaries of these three stages of production
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd