Spartan Company purchased interior decoration material from Egypt for 100,000 Egyptian pounds on September 5, 20X8, with payment due on December 2, 20X8. Additionally, on September 5, Spartan acquired a 90-day forward contract to purchase 100,000 Egyptian pounds of E£ = $.1850. The forward contract was acquired to manage the exposed net liability position in Egyptian pounds, but it was not designated as a hedge. The spot rates were: September 5, 20X8E£1 =$0.1835 December 2, 20X8E£1 =$0.1865 Based on the preceding information, in the entry made on December 2nd to revalue foreign currency receivable to current equivalent U.S. dollar value,
A. Foreign Currency Transaction Gain will be credited for $150.
B. Other Comprehensive Income will be credited for $300.
C. Accounts Payable will be debited for $18,350.
D. Foreign Currency Units will be debited for $18,500.
Answer: A
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The major difference between a traditional and a goal-oriented job description is that the traditional job description _____
a. relates each job to overall organizational goals b. limits a worker's activities to those listed c. details informational flows d. describes the interdependence of job positions
Market size and growth rates in different countries can be influenced positively or negatively by
A. the ability of management to tailor a strategy to take into consideration differences among country markets. B. competitive rivalry that is only moderate in some countries. C. which countries have the weakest foreign rivals. D. differing population sizes, cultures, income levels, infrastructure, and distribution networks among countries. E. the large size of emerging markets such as Brazil, Russia, China, and India.
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $58,000 2) borrowed $34,000 from its bank 3) provided consulting services for $56,000 4) paid back $24,000 of the bank loan 5) paid rent expense for $13,500 6) purchased equipment costing $21,000 7) paid $3900 dividends to stockholder 8) paid employees' salaries, $30,000 What is Yowell's net cash flow from operating activities?
A. Inflow of $26,000 B. Inflow of $46,500 C. Inflow of $12,500 D. Inflow of $8600
If the old backlog was 200 units, the forecast for the next period is 500 units, and production for the
next period is 600 units, what will be the backlog at the end of the next period? A) 100 units B) 200 units C) 300 units D) 700 units E) 800 units