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!
Question 2 Braco Corporation is a subsidiary of Telco Inc. in Mexico. It was established before 1 January 2010. Braco's balance sheet items as of 31 December 2010, in pesos: Cash 1,500 Accounts payable 3,000 Accounts rec. 1,500 Long-term debt 5,000 Inventory 2,500 Share Capital 3,000 Fixed assets 8,000 Retained earnings 1,500 Accum. depr. 1,000 Braco's income statement items for 2010, in pesos: Sales 21,000 Depr. exp 1,000 COGS 15,000 Interest exp. 500 S,G,&A exp. 2,500 Income tax exp. 500 Additional Information: (i) There was no beginning inventory. (ii) Inventory that is carried at cost was acquired evenly during the last quarter of 2010. (iii) Fixed assets were acquired on 1 January 2010.ACC303 Copyright © 2014 SIM University Page 4 of 5 Examination - January Semester 2014 (iv) Purchases were made consistently throughout year. (v) Share Capital was issued and paid on 1 January 2010. (vi) Retained Earnings opening balance is 0. (vii) Dividend paid of 500 pesos at Dec 21, 2010 with exchange of $0.084 (viii) Relevant exchange rates (U.S. dollar per Mexican peso): January 1, 2010 $0.110 Average rate for 2010 $0.096 Average rate for 4th quarter 2010 $0.091 December 31, 2010 $0.081 Required: Demonstrate the translation of Braco's financial statements into USD in accordance with U.S. GAAP at Dec 31, 2010 using current rate method.
Thorpe's president has asked your consulting firm to make a recommendation as to whether the banolide should be sold at the split-off point or processed further. Explain your answer.
leeds architectural consultants uses a job-order costing system and applies studio overhead to jobs on the basis of
a nuclear reactor continuously generates 150 mw of powerthrough the fissioning of uranium. suppose that each
If the drill press costs $10,000 determine the expected benefit to cost ratio of the project using a MARR of 15%. Should the automated drill press be purchased?
the sanders electric company is evaluating two projects for possible inclusion in the firms capital budget. project m
crosby industries has a debt-equity ratio of 1.5. its wacc is 9 percent and its cost of debt is 6 percent. there is no
determine a petty cash fund? list two ways a business would maintain controls over petty cash? list two procedures you
how to the following transactions affect the accounts listed cash other assets liabilities paid in capital retained
the densain water plant in naples florida bottles purified and flavored waters in a variety of sizes 20 36 48 and 64
for warren corporation year-end plan assets were 2018200. at the beginning of the year plan assets were 1742800. during
almo company manufactures and sells adjustable canopies that attach to motor homes and trailers. almo developed its
merchandise with an invoice price of 2000 was purchased on october 3 terms 115 n60. the company uses the net method to
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