Problem 3: On November 1, 2018, V Company took deliveryfrom Thailand firm of inventory costing 100,000 baht. Paymentis due on January 30, 2019. Concurrently, V paid 900 cash toacquire 90-day call option for 100,000 Thailand baht.11/1/181.2012/31/181/30/191.23Spot rateStrike priceFV of call optiona. On December 31, 2018, accounts payable amounted1.221.201.201.209002,2003,000to?b. On December 31, 2019, foreign currency contractvalue option amounted to?c. On December 31, 2018 net foreign exchange gain orloss amounted to?d. The January 30, 2019 expiration date, net foreignexchange gain or loss amounted to?e. The January 30, 2019, expiration date, foreigncontract value option amounted to?

A contract value option, also known as an option contract, is a financial derivative that gives the…

O payable to? b. On December 31, 2019, foreign currency contract value option amounted to? c. On December 31, 2018 net foreign exchange gain or loss amounted to? d. The January 30, 2019 expiration date, net foreign exchange gain or loss amounted to? e. The January 30, 2019, expiration date, foreign contract value option amounted to?

O payable to? b. On December 31, 2019, foreign currency contract value option amounted to? c. On December 31, 2018 net foreign exchange gain or loss amounted to? d. The January 30, 2019 expiration date, net foreign exchange gain or loss amounted to? e. The January 30, 2019, expiration date, foreign contract value option amounted to?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 10P

See similar textbooks

Similar questions

1. FDN Trading received the following promissory notes from various customers during 2020 in the course of selling its merchandise: One-year 20% note for P103,000 Four-month 12% note for P85,000 180-day 18% note for P80,000 All these notes were collected at their maturity dates during the year. How much is total interest income to be recorded by FDN Trading during 2020? 2. On November 1, 2021, FDN Trading accepted a 90-day, 8% P4,000,000 note from ABC Co. FDN immediately discounted with recourse the note to a bank that offers a 12% discount rate. FDN assumes the interest expense associated with this transaction. How much interest expense should FDN Trading debit on its records? Calculate the total interest expense and NOT the net interest expense. 3. The total assets of the business amounted to P1,500,000 and liabilities amounted to P200,000. The owner withdrew cash amounting to P70,000. How much is the total liabilities and owner’s equity after the withdrawal?
Luna Company reported the following figures: 2020 2019 Net Credit Sales Account receivables at end of year $572,000 $38,700 $600,000 $46,100 Required: 1) Compute Luna's collection period of receivables for 2020. (Round to the nearest day) 2) Suppose Luna's normal credit terms for a sale on account are "2/10, n/30". How well does Luna's collection period compare to the company's credit terms? Is this good or bad for Luna Company?
11. Record journal entries for the following transactions of Telesco Enterprises. Jan 1, 2018 Issued a $330,700 note to customer Abe Willis as tems of a merchandise sale. The merchandise's cost to Telesco is $120,900. Note contract terms included a 36-month maturity date, and a 4% annual interest rate. Dec. 31, 2018 Telesco records interest accumulated for 2018. Dec. 31, 2019 Dec. 31, 2020 Telesco records interest accumulated for 2019. Abe Willis honors the note and pays in full with cash.
On June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 > Other fav t
At the end of 2020, the business has a notes payable with maturity value of TL60.000. The maturity date of the note is April 30, 2021. If the discount rate is 20%, which adjusting entry is made on December 31, 2020 by using maturity value method? a.TL4.000 debit to 647-Discount Interest Revenue and credit to 322-Discount on N/P b.TL56.000 debit to 647-Discount Interest Revenue and credit to 322-Discount on N/ c.TL56.000 debit to 322-Discount on N/P and credit to 647-Discount Interest Revenue d.TL4.000 debit to 322-Discount on N/P and credit to 647-Discount Interest Revenue
On March 31, 2020, Company A issued 18% bearing note payable in ten semi-annual instalments every September 30 and March 31 starting September 30, 2020; P 5,0000,000. The market interest rate for this type of transaction is 10%. Get: Present Value/ Carrying Value Beg. Carrying Value December 31, 2022
Princeton's detailed age analysis of trade receivables at 31 December 2020 shows the following:Customer nameTotal outstandingCredit limit0-30days31-60days61-90daysOver 90 days£ £ £ £ £ £A Ames 16 200 15 000 2 000 8 700 2 500 3 000B Bristow 18 300 25 000 18 300C Chen 4 700 4 800 2 000 2 700TOTAL 39 200 - 20 300 10 700 5 200 3 000Notes:• The company offers 30 days credit to its customers.• The credit is offered to the customers based on words of mouth• Ames is disputing the quality of some of the goods and refusing to pay, no decision hasbeen made yet (£3,000 over 90 days)• Chen has just put in an order for £5,000, he is a good friend of the directorRequired:What are the key points arising from the credit controller's review in respect of each trade receivable balance and what suggestions can be made to improve the aged analysis report
Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?
On January 1, 2020, Company A issued 18% bearing note payable in ten semi-annual instalments every June 30 and December 31 starting June 30, 2020; P 5,0000,000. The market interest rate for this type of transaction is 10%. Get: Present Value/ Carrying Value Beg. Carrying Value December 31, 2022
On January 1, 2019, Bank Nizwa issued CD in Muscat Securities Market which will mature in October 30, 2020. The CD pays 6% interest rate. Calculate the interest earned on this CD with face value(FV) of 50000. Assume all month to be of 30 days. Select one: O a. 1856.57 OMR O b. 1972.60 OMR O c. None of these O d. 1965.90 OMR Next page Windows bu 直 G a 4) ^
On January 1, 2019, Bank Dhofar issued CD in Muscat Securities Market which will mature in October 30, 2020. The CD pays 8 % interest rate. Calculate the interest earned on this CD with face value of 100000. Assume all month to be of 30 days. Select one: a. None of these b. 4835.50 OMR C. 5325.40 OMR d. 5260.27 OMR
Q4. National Bank of Pakistan agrees to lend Rs. 100,000,000 on September 1, 2020, if PepsiCo. signs a Rs. 100,000, 000 12.5%, four-month note maturing on January 1. Instructions Prepare the entry on September 1st. Prepare the adjusting entry on Dec. 31st, assuming monthly adjusting entries have not been made. Prepare the entry at maturity (Jan. 1, 2015).