Recorded value if two-transaction method is used

Assignment Help Accounting Basics
Reference no: EM13149296

A U.S. firm has purchased, for 50,000 FCs, an electric generator from a foreign firm. The exchange rates were 1 FC = $0.80 on the delivery date and 1 FC = $0.76 when the payable was paid. What is the final recorded value if the two-transaction method is used?

Reference no: EM13149296

Questions Cloud

Express this also as an annual rate of return : If the note matures six years from today, how much money will you recieve from all the investments? Express this also as an annual rate of return.
Write a brief note on cystic fibrosis : Write a brief note on Cystic Fibrosis, including its etiology (cause), symptoms, and possible management approach.
How many grams of sodium phosphate are required : How many grams of sodium phosphate Na3PO4(163.9 g/mol) are contained in 205. mL of a sodium phosphate solution that is 0.194 M in sodium ion Na+?
What difference did the calvinist notion of predestination : What difference did the Calvinist notion of predestination play such a critical role in the accumulation of capital in countries such as Switzerland, the Netherlands and Great Britain?
Recorded value if two-transaction method is used : A U.S. firm has purchased, for 50,000 FCs, an electric generator from a foreign firm. The exchange rates were 1 FC = $0.80 on the delivery date and 1 FC = $0.76 when the payable was paid. What is the final recorded value if the two-transaction met..
Compute cumulative benefits per stage : Compute cumulative benefits per stage Compute cumulative patients per stage Graph the cumulative benefits curve Which variable represents marginal benefits per stage? C
Confidence interval for the mean speed of vehicles : Use the data above to construct a 95% confidence interval for the mean speed μ of vehicles traveling on Dan Allen Drive. (calculate y and s to 3 decimal places).
What will be your fixed and variable costs : Your richrelative died and left you $100,000, which you decided to use for your own Internet business and what will be your fixed and variable costs? Briefly discuss.
Inventory turnover for the year : Calculate what cost of sales would have been for the year if the company had used FIFO to value its inventory. Calculate inventory turnover for the year using the reported numbers.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Standards and materiality

If the standards are set in a process that often results in compromise between different parties, do the qualities of accounting information provide much value? How?

  Process cost accounting problem

In addition Explain what type of manufacturing would use the "Process Cost Accounting" to account for cost of manufacturing.

  Revenue and expense data for schumpert medical center

The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011.

  Transactions on the assets-liabilities

Required: Show the effects of the below transactions on the assets, liabilities and owner's equity.

  Present value factors for annuity

Dean signed an agreement to sell the plant for $350,000 January 1 year 10 and Lease it back for $15,000 per year, deans incremental borrowing rate is 6%. Present value factors for annuity

  Why the associated responsibilities are viewed as accounting

The role of management accounting Consider the descriptions of management accounting provided in Exhibit 1-3 and in the remainder of the chapter.

  Effective interest method

If the effective interest method is used, by how much should the bond discount be reduced for the 6 months ended December 31, 2009?

  Income disparity and concept of progressive taxation

Progressive income taxes (the more you earn, the more you pay) are designed in part to reallocate earnings. Does the approach seem fair? Explain your answer.

  Calculate the purchases budget, in dollars

Management's inventory policy is to have ending inventory equal to 1.4 times the cost of sales for the subsequent month, although it is estimated that the cost of inventory at March 31 will be $170,000.

  Entity expenditure cycle

What did you learn about an entity's expenditure cycle? How many components are part of this cycle? What did you learn in your audit of Apollo's expenditure cycle? Did you not any errors or findings? If yes, how do you think these errors or findin..

  Margin of safety as a percentage of sales

Knell Corporation sells a product for $230 per unit. The product's current sales are 33,000 units and its break-even sales are 26,400 units. The margin of safety as a percentage of sales is closest to:

  Net income and free cash flow

In order to sustain operations and generate sales and cash flow, the firm required to make $1250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how much did the firm's net income exceed its free..

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd