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1) What is the concept of current rate method of translation and temporal method of translation? How does balance sheet exposure differ under these two methods?
2) The 2010 financial statement of Child Co. Inc (Mexico), a subsidiary of Parent Co. Inc (United States), reveals the following information:
Beginning Inventory
Peso 100,000
Purchases
Peso 500,000
Ending Inventory
Peso 150,000
COGS
Peso 450,000
US dollar exchange rate for 1 Peso:
January 1, 2010
$0.45
Average, 2010
$0.42
December 31, 2010
$0.38
The beginning inventory was acquired when the exchange rate was $0.50 last quarter of 2009; ending inventory was acquired when the exchange rate was $0.40 last quarter of 2010.
Report amounts of ending inventory and cost of goods sold to be included in the consolidated financial statements under (1) Current rate method and (2) Temporal method.
Henry purchased the building on January 2, 2011 for $800,000. The building is to be depreciated using the straight-line method over a period of 40 years with no salvage value. Depreciation for year 1 is?
Merchandise subject to terms 1/10 n/30, FOB shipping point, is sold on account to a customer for $18,000. The seller paid transportation cost pf $1000 and issued a credit memorandum for $5,000 prior to payment. What is the amount of the cash disco..
A house worth $70,000 is purchased with a down payment of $20,000 and a mortgage amortized over 20 years. If the interest rate is 14% compounded semi- annually;
Land was given to the company by the State of Florida to use as a manufacturing facility site. The market value of the land at the time of the donation was $102,000. Prepare journal entries for Overland Company to record the above transactions
On that date, when the market price of Hunter was $14 per share, there were 90,000 shares of Pierson outstanding. What gain and net reduction in retained earnings would result from this property dividend?
BC Company uses a job order cost accounting system. During the month of April, the following events occurred:
What is the net cost of the machine for capital budgeting purposes? (That is, what is the year 0 net cash flow?) What are the net operating cash flows in Years 1,2, and 3? What is the additional Year 3 cash flow (that is, the after-tax salvage and th..
An outside supplier has offered to produce the corn chips for $20 per batch. If all fixed costs can be eliminated, how much will Hungry Bites save if it accepts the offer?
Lakewood Fashions must decide how many lots of assorted ski wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands.
Explain how accumulated retained earnings impact the book value of a firm's stock. Give two reasons why the market book share prices might be different. Be specific.
Write a 500-700-word assignment in which you define operations management and analyze an ethics decision made by operations managers in your organization or in an organization with which you are familiar.
Determine (a) the price variance, quantity variance, and total direct materials cost variance; (b) the rate variance, time variance, and total direct labor cost variance; and (c) variable factory overhead controllable variance, the fixed factory o..
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