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On September 3, 2008, Jackson Corporation purchases goods for a U.S. dollar equivalent of $17,000 from a Swiss company. The transaction is denominated in Swiss francs (SFr). The payment is made on October 10. The exchange rates were:September 3: 1 Swiss franc = $.85October 10: 1 Swiss franc =$.90 What entry is required to revalue foreign currency payable to U.S. dollar equivalent value on October 10?
On March 1, 2008, Wilson Corporation sold goods for a U.S. dollar equivalent of $31,000 to a Thai company. The transaction is denominated in Thai bahts. The payment is received on May 10. The exchange rates were:
March 1: 1 baht = $.031May 10: 1 baht = $.034
What entry is required to revalue foreign currency payable to U.S. dollar equivalent value on May 10?
In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in complete liquidation. Allie, a shareholder, receives land having a market value of $300,000.
Examine the corporate financial decision-making procedure at your selected organization (Walt Disney). In your analysis be sure to address the following items:
What is the relationship between receivables and cash? What is their influence on liquidity and solvency? How do they affect competitiveness? Why are sales revenue and gross margin so important?
Journalizing corporate transactions and preparing the stockholders' equitysection of the balance sheet [20-25 min]B-Mobile Wireless needed additional capital to expand, so the business incorporated.
Better home products Canadian operations are organized into two divisions: west and east. west division sells a component that could be used by east division in making one of the company's principal products.
In business, there is a tension between the principals (stockholders) and agents (managers). The managers may choose policies that increase short-term profitability (and their bonuses) at the expense of long-term profitability.
What portion of the unrealized intercorporate profit is eliminated in a downstream sale? In an upstream sale? Explain.
Radon Homes' current EPS is $6.50. It was $4.42 5 years ago. The company pays out 40% of its earnings as dividends, and the stock sells for $36. Calculate the past growth rate in earnings.
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation:
Prepare a separate Statement of Revenues, Expenditures, and Changes in Fund Balances for the Library Book Permanent Fund for the Year Ended December 31, 2012.
Quayle Corporation's inventory cost on its balance sheet was lower using first-in, first-out than it would have been using last-in, first-out. Assuming no beginning inventory, in what direction did the cost of purchases move during the period?
What per-member per month (PMPM) rate would be required to break even, ignoring any co-payments? What advice would you provide the primary care group?
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