Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Reporting to stakeholders: employees, customers, suppliers, governments, activist groups, general public, in addition to investors is: Select one: O a. Social Accountability Reporting. O b.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Reporting to stakeholders": employees, customers, suppliers, governments, activist groups, general public, in addition to investors is: Select one: O a. Social Accountability Reporting. O b. Social Reliability Reporting. O c. Social Responsibility Reporting. O d. Verifiability Reporting, On November 1, 2019, DEMA Corp., a U.S. firm, sold merchandise to a foreign firm for 300,000 FC. DEMA will be paid on January 31, 2020, in FC. The spot rates on selected dates were as follows: November 1, 2019 1 FC = $0.50, December 31, 2019 1 FC = $0.55, and January 31, 2020 1 FC = $0.53. DEMO has a December 31-year end, the journal entry on January 31,2020 includes: Select one: O a. Debit to accounts receivable $ 165,000. O b. Debit to accounts receivable $ 150,000. O c. Credit to accounts receivable $ 165,000. O d. Credit to accounts receivable $ 150,000. A U.S. manufacturer has sold computer services to a foreign firm and later received 200,000 foreign currency units (FC). The exchange rates were 1 FC = $.75 on the date of the sale and 1 FC = $.80 when the receivable was settled. On the transaction date, the settlement exchange rate is estimated to be 1 FC = $.72. By the settlement date, what is the total exchange gain or loss recorded for the transaction if the two-transaction method is used? Select one: O a. $6,000 exchange loss O b. $10,000 exchange loss O c. $6,000 exchange gain O d. $10,000 exchange gain Under Current/Noncurrent Method, Noncurrent Balance Sheet Accounts to be translated using: Select one: O a. Current rate. O b. Historical rate. O c. Average rate. O d. Single rate. On November 1, 2019, DEMA Corp., a U.S. firm, sold merchandise to a foreign firm for 300,000 FC. DEMA will be paid on January 31, 2020, in FC. The spot rates on selected dates were as follows: November 1, 2019 1 FC = $0.50, December 31, 2019 1 FC = $0.55, and January 31, 2020 1 FC = $0.53. DEMO has a December 31-year end, the result of the series of transactions involving the sale: Select one: O a. $ 6,000 gains. O b. $ 9,000 gains. O c. $ 15,000 losses. O d. $ 6,000 losses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essential Audit And Assurance 2022

Authors: Nick Blackwell, Emile Woolf International

1st Edition

1848439326, 978-1848439320

More Books

Students also viewed these Accounting questions

Question

In Exercise 40 what is the

Answered: 1 week ago

Question

4. Choose appropriate and powerful language

Answered: 1 week ago

Question

2. Choose an appropriate organizational pattern for your speech

Answered: 1 week ago