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Question - Arlene Company produces colorful 100% cotton shirts and the entity needs 50,000 kilos of raw materials in the production process. On December 1, 2014, the entity purchased a call option as a cash flow hedge to buy 50,000 kilos on July 1, 2015. The option strike price is P100 per kilo. The entity paid P50,000 for the call option. This derivative option contract means that if the market price is higher than P100, the entity can exercise the option and buy the asset at the strike option price of P100. If the market price is lower than P100, the entity can throw away the option and buy the asset at the cheaper price. The market price per kilo is P110 on December 31, 2014 and P115 on July 1, 2015. Assume the market price is P110 on December 31, 2014 and P90 on July 1, 2015. What is the derivative liability on July 1, 2015?
Customers returned 1500 worth of glass art because of various defects.her cost of goods sold was 19,000 what is Laurens schedule c gross income
Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company
There are many differences with the measurement of assets between IFRS and U.S. GAAP. For each of the following topics, please describe how it would be handled with both sets of standards, and provide a minimum of 2 examples of issues surrounding ..
Jan 1 2022 Paint Palette paid $122,000 to obtain a patent. Record amortization expense for the year ended Dec. 31, 2021
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VAT on banking transactions was removed because of difficulty of implementing, enforcing, monitoring and assessing taxpayer compliance which fails to achieve
Suppose you borrow $8000 when financing a coffee shop which is valued at $30000. Assume that the unlevered cost equity of the coffee shop is 15% and that the cost of debt is valued at 5%. What should be the cost of equity of your firm?
What was the final distribution to Curry in March? Upon the distribution, the partners agreed to apply bonus to Allen based on the net income
The freight charge of $40 was paid by Ganster Company and added to the invoice. What the amount to record as payable
Hope Corporation, If the proposed relaxation in credit standards is implemented, what is the net benefit (loss) for Hope Corporation?
If production does increase dramatically after their presentation on Shark Tank, What is the incremental analysis if the Lees choose Option 1 over Option 2?
The company operated at 70% of capacity, employees worked 371,000 hours, and the following actual overhead costs were incurred.
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