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Belsen purchased inventory on December 1, 2008. Payment of 200,000 stickles was to be made in sixty days. Also on December 1, Belsen signed a contract to purchase € 200,000 in sixty days. The spot rate was $1= €2.80 and the 60 day forward rate was $1= €2.60. On December 31, the spot rate was $1= €2.90 and the 30 day forward rate was $1 = € 2.62. Assume an annual interest rate of 12% and a fair value hedge. The present value for one month at 12% is .9901.
In the journal entry to record the establishment of a forward exchange contract, at what amount should the Forward Contract account be recorded on December 1?
• $71,428.57
• $76,923.08
• $5,549.51
• $587.20
• $0 since there is no cost, there is no value for the contract at this date
Maas Enterprises has $2,190,000 of 6 percent bonds outstanding. There is $40,000 of unamortized discount remaining on the bonds after the March 1, 2011, semiannual interest payment.
How many distinct steps or requirements are contained in the language of IRC Section 351 (a) for non-recognition treatment, and what are they?
If the standard deviation was .67 and at the 0.025 significant level, has the shelf life of the cupcake mix increased?A. Yes, because computed t is greater than the critical value.
Compute the income or loss before taxes recorded by Krawczyk for the years ended December 31, 2011, and 2012,as a result of the above transaction, assuming that the installments are collected as due under the contract.
Prepare a balance sheet for the Courthouse Annex Capital Project Fund, assuming all unexpended resources are restricted to construction of the courthouse annex.
On January 10, 2012 Badger Co. purchased 30% of the outstanding stock of Crest Co. fir $123,000. Crest paid total dividend to all shareholders of $15,000 on July 15. Crest had a net loss of $25,000 for 2012.
Prepare the journal entry for these transactions under the cost method of accounting for treasury stock.
The CEO of your company has asked you to prepare a written presentation to be given at the next board of directors meeting on why different types of cost information need to be reported to support different managerial purposes and decisions. In a ..
A company that provides training, certification and consulting services to commercial, government, and non-profit organizations in applying best practices in balanced scorecard (BSC), strategic performance management and measurement, and transform..
On June 1, 2001, Janson Bottle Company sold $500,000 in long-term bonds for $428,800. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10% (use the 10%).
The parent company's share of the fair value of the net assets of a subsidiary may exceed acquisition cost. How must this excess be treated in the preparation of the consolidated financial statements? What is the reasoning that supports this treat..
The Denim World sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags.
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