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Question:
On March 1, 2013, Werner Corp. received an order for parts from a Mexican customer at a price of 500,000 Mexican pesos with a delivery date of April 30, 2013. On March 1, when the U.S. dollar- Mexican peso spot rate is $0.115, Werner Corp. entered into a two-month forward contract to sell 500,000 pesos at a forward rate of $0.12 per peso. It designates the forward contract as a fair value hedge of the firm commitment to receive pesos, and the fair value of the firm commitment is measured by referring to changes in the peso forward rate. Werner delivers the parts and gets payment on April 30, 2013, when the peso spot rate is $0.118. On March 31, 2013, the Mexican peso spot rate is $0.123, and the forward contract has a fair value of $1,250.
What is the total impact on Werner's net income for the quarter ended March 31, 2013, as a result of this forward contract hedge of a firm commitment?
Determine the inventory balance Marcus would report in its August 31,2011 balance sheet and the cost of goods sold it would report in its August 2011 income statement
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Two partners have a dispute concerning current earnings. One partner believes his share is $75,000, while the other partner it is $100,000. How should this matter be resolved?
The beginning and ending balances in salaries payable were $40,000 and $15,000, respectively. Illustrate what was the amount of cash paid for salaries?
The stated interest rate on the note is 8%. By issuing the note Lambert acquired some office equipment with a fair value of $107893. Create the journal entries to record the transaction and the interest expense at the end of the first year.
Hydro Inc. manufactures water sensors used by scientists to measure water quality. For the most recent period ended Hydro manufactured and sold 53,250 sensors at a sales price of $290 per sensor.
Describe the evolving accounting standards for recording and translating foreign exchange related transactions and financial statements?
Calculate the cost of capital for the individual components in the capital structure, and then calculate the weighted average cost of capital for Metacorp. Consider after-tax cost of capital in your calculations.
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Calculate the project's initial, time 0 cash flow, taking into account all side effects and compute the current weighted average cost of capital (WACC) of DEI. Show all workings and state clearly the assumptions underlying your computations.
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