User Account

All Pages

What is the journal entry at the date of cash receipt

Assignment Help Accounting Basics
Reference no: EM133155468

Question - Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on credit terms for US$80 000. On 1 August 2023, cash is received from the customer to settle the invoice Exchange rates are:

1 April 2023 US$1.00 = A$1.30

30 June 2023 US$1.00 = A$1.55

1 August 2023 US$1.00 = A$1.45

Required - What is the journal entry at the date of cash receipt on 1 August 2023?

Reference no: EM133155468

Questions Cloud

What was watson total prevention and appraisal cost : Listed below are selected line items from the Cost of Quality report for Watson Products for last month: What was Watson total prevention and appraisal cost
Determine qrx taxable income for this year : QRX had a net operating loss of $10,000 and a net long-term capital loss of $30,000. Determine QRX taxable income for this year
What is a normal distribution curve : What is a normal distribution curve? What is being "distributed"? What is "it" being distributed over? How does one calculate an expected value
Allocate the unreserved public IPv4 addresses : Allocate the unreserved public IPv4 addresses to different states in Australia based on the number of Internet users in those states
What is the journal entry at the date of cash receipt : Mozzie Ltd sells goods to a customer on credit terms for US$80 000. What is the journal entry at the date of cash receipt on 1 August 2023
What is the standard overhead allocation rate : The following data is given for Mandell? Company: Actual overhead costs $1,100,000. What is the standard overhead allocation rate
Compute the total variable cost : At an activity level of 8,800 unit, Pember Corporation's total variable cost is $146,250 and its total fixed cost is $219,296. Compute the total variable cost
Ethics and ethical issues in educational environments : Demonstrate understanding of ethics and ethical issues in educational environments and Convey understanding of the impact of policy on the decision making
What is the carrying amount of the investment : The bonds have an effective yield of 14% and are quoted at 105 at year end. What is the carrying amount of the investment at the end of the current year

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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