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A Norwegian company sold 15.12.x0 services to Amazon for USD 100,000 per 30 days. At the time of sale, 1 USD was equal to 10
A Norwegian company sold 15.12.x0 services to Amazon for USD 100,000 per 30 days. At the time of sale, 1 USD was equal to 10 NOK, while 1 USD was 11 NOK per 31.12.x0, when the company receives settlement, 1 USD is equal to 10.50 NOK. What is to be capitalized as the value of the receivable as of 31.12 when the company uses NOK as the accounting currency? Select one option a. NOK 1,100,000 b. NOK 1,050,000 c. NOK 1,000,000 d. None of these options A company has recognized trade receivables with NOK 1,000,000 as of 31.12.x1. Acquisition cost for the trade receivables the company had as of 31.12.x1 was NOK 1,100,000. During 20x1, the company received NOK 20,000 paid in receivables that were accounted for as a stated loss of 20x0. The company's book value of the receivables as of 31.12x2 was NOK 1,500,000. The acquisition cost for the receivables as of 31 December x2 was NOK 1,655,000. During the period (20x2), the company had established losses related to credit sales of NOK 40,000. What is to be expensed as "Loss on receivables" in 20x2? Select one option a. NOK 75,000 b. None of these options c. NOK 155,000 d. NOK 95,000
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