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On 1 July 2021 Brown Ltd, an Australian company, provides some consulting advice to the California Tropicana Company, an American organisation for an agreed fee of US$150,000. The amount is paid into the American bank account of Brown Ltd on 1 July 2021. Brown Ltd has left these monies in the American bank account, which pays interest at a rate of 5% per annum. Brown Ltd will collect this money from their American bank account on 30 June 2023. The relevant exchange rates are as follows: On 1July 2021 A$1.00 = US$.70 and on 30 June 2023 A$1.00 = US$.80
Problem 1: Show all the journal entries in the financial records of Brown Ltd for the year ended 30 June 2023 (to simplify your response the concept of time-value of money will be ignored in this instance). Show all workings.
Show the journal entry or entries (accounts and amount) needed to record each transaction. Paid $10,646 million cash related to accounts payable due to supplier
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Financial accounting prepares reports for internal? purposes, whereas managerial accounting provides information to external stakeholders.
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Provide the necessary journal entry at December 31, 2009. Provide the necessary journal entry at June 30, 2010. Provide the necessary journal entry at December 31, 2010.
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Alla Aeroshoes is planning to market and sell its new Bluetooth-enabled shoe in two markets: national and international. The local market will require an initial investment and will have cash inflows for three years. Assume a MARR of 10% and a risk-f..
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