Global Trading Company. converts its foreign subsidiary financial statements using the translation process. The company's Swiss subsidiary reported the following for 2014: revenues and expenses of 13,220,000 and 6,672,000 Swiss francs, respectively, earned or incurred evenly throughout the year, dividends of 2,000,000 Swiss francs were paid during the year. The following exchange rates are
available: On January 1 . 2014 .................................... $.175 On December 31 . 2014 .................................. .188 Average rate for 2014 ................................. .178 Rate when dividends were declared and paid ............ .196 Translated net income for 2014 is
a. $891,408.
b. $809,544.
c. $1,283,408.
d. $1,165,544.
D
You might also like to view...
A stereotype is defined as:
a. A preconceived judgment or opinion held by members of a group b. A standardized, oversimplified mental picture that is held in common by members of a group c. A preconceived opinion, not based on reason or experience d. A statement of being subject to specific treatment or control
Jed is an electrician. He and his wife are accrual basis taxpayers and file a joint return. Jed wired a new house for Alison and billed her $15,000. Alison paid Jed $10,000 and refused to pay the remainder of the bill, claiming the fee to be exorbitant. Jed took Alison to Small Claims Court for the unpaid amount and was awarded a $2,000 judgement. Jed was able to collect the judgement but not the remainder of the bill from Alison. What amount of loss may Jed deduct in the current year?
A. $0 B. $2,000 C. $3,000 D. $5,000 E. None of these.
Buyers are typically interested in all of a product's features and benefits.
Answer the following statement true (T) or false (F)
Emilyand other users of Facebook and other social networking sites post messages, images, and other materials on these sites. Social media posts are routinely included in discovery in litigation to
a. establish a person's intent. b. establish what a person knew at a particular time. c. reduce damages awards. d. all of the choices.