Assuming that MNC entered into a forward contract to sell 10 million South Korean won on December
Question:
a. No impact on net income.
b. $58.80 decrease in net income.
c. $2,000 decrease in net income.
d. $1,941.20 increase in net income.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
B The nominal value of the forward contract on December 31 2011 ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Question Posted:
Students also viewed these Accounting questions
-
Assuming that Brandt entered into a forward contract to sell 10 million South Korean won on December 1, 2020, as a fair value hedge of a foreign currency receivable, what is the net impact on its net...
-
Fair Value Hedge of a Foreign Currency Firm Commitment: Call Options On May 1, 2020, Greenwave Foods, a U.S. company, issued a purchase order to an Italian company for 10,000,000 in food products, to...
-
A company has entered into a forward contract for the purchase of gold, in 2 years, for $1300/oz. Does this arrangement meet the definition of a derivative? Analyze all required parts of the...
-
(a) Compute the primary Class 1 NICs payable by the following weekly-paid employees for the week ending 14 August 2020: (i) Employee A has earnings for the week of 110. (ii) Employee B has earnings...
-
An aircraft arresting gear is used on an aircraft carrier as shown in Figure DP3.3. The linear model of each energy absorber has a drag force fD = KDx3. It is desired to halt the airplane within 30 m...
-
Negotiation is an important part of the sales process, but it is sometimes said that this is a different skill to other skills needed by sales communicators. Are there any situations in which a case...
-
Are there organizations that provide a list of potential arbitrators and mediators in your area? What types of disputes are subject to arbitration?
-
Blanda Incorporated management is considering investing in two alternative production systems. The systems are mutually exclusive, and the cost of the new equipment and the resulting cash flows are...
-
provide a detailed analysis of columbia sportswear by considering at least one financial ratio is each of the following categories: - Profitability Ratios (Hint: Margins, sustainability, input costs)...
-
Event 1, Peak Experience: A peak experience is a high point in your story about MATH 1220. It is a moment or episode in which you experienced extremely positive emotions, such as joy, excitement,...
-
On December 1, 2011, Barnum Company (a U.S.-based company) entered into a three-month forward contract to purchase 1,000,000 ringgits on March 1, 2012. The following U.S. dollar per ringgit exchange...
-
On March 1, Pimlico Corporation (a U.S.-based company) expects to order merchandise from a supplier in Sweden in three months. On March 1, when the spot rate is $0.10 per Swedish krona, Pimlico...
-
The quality control chart of a certain manufacturing company shows that 45% of the defective parts produced in the company are due to mechanical errors and 55% were caused by human error. The...
-
Barters Sandwiches (B) is a large franchise chain headquartered in London specialising in selling chicken sandwiches. B is incorporated in the United Kingdom (UK) and has over the last few years...
-
This assignment is posted under the Discussions tab. Students will be divided into groups and you will be assigned to a Discussion Forum based on the first letter(s) of your last name (Jury 1 A-C for...
-
As part of your new job at Headman the Puck, the company is providing you with a new car. Your firm will lease this $34,000 car for you. The terms of the lease are seven annual payments at an...
-
At age 30, Michelle starts an IRA to save for retirement by depositing $150 at the end of each month. If she can count on an APR of 4.2%, how much will she have when she retires 35 years later at age...
-
How does organizational culture contribute to or detract from organizational effectiveness, and what practices can be used to cultivate a culture that supports the organization's mission?
-
Why is the NAICS coding system said to be superior to SIC codes?
-
A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000, and $40,000. The associated standard deviations are $10,000, $12,000, and $9,000....
-
Consider your worst, most embarrassing intercultural blunder and then imagine it amplified a thousand fold or millionfold for everyone to see. Social networking is instant and, once released, it cant...
-
1. Cob, Inc., a partner in TLC Partnership, assigns its partnership interest to Bean, who is not made a partner. After the assignment, Bean asserts the rights to: I Participate in the management of...
-
1. Partners Allen, Baker, and Coe share profits and losses 50:30:20, respectively. The balance sheet at April 30, 2011, follows: The assets and liabilities are recorded and presented at their...
-
The partnership agreement of Kray, Lam, and Mann provides for the division of net income as follows: 1. Lam, who manages the partnership, is to receive a salary of $11,000 per year. 2. Each partner...
-
1. Write the syntax definitions of the following objects: (a) Natural number (b) Unsigned integer (c) Integer (d) Odd number (e) Even number (1, 2, 3,...) (0, 1, 2, 3,...) (..., -2, -1, 0, 1, 2, ...)...
-
(6.1) 10110 XOR 11011 Perform the following BITWISE logic operations. (6.2) 1110110 NAND 101101
-
The Dougherty Furniture Company manufactures tables. In March, the production department had budgeted allocation base (i.e. cost driver) of 4,000 machine-hours. The budgeted manufacturing overheads...
Study smarter with the SolutionInn App