Business, 05.09.2019 22:10 drma1084

On april 1, 2017, shannon company, a u. s. company, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due april 1, 2018. the dollar value of the loan was as follows:
date amount
april 1. 2010 $97,000
december 31, 2010 $103,000
april 1. 2011 $105,000
how much foreign exchange gain or loss should be included in shannon's 2011 income statement?
(a) $1,000 gain.
(b) $1,000 loss.
(c) $2,000 gain.
(d) $2,000 loss.
(e) $8,000 loss.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 04:50

Allie and sarah decided that they want to purchase renters insurance for the apartment they share. they made a list of all of the items to be covered by the insurance policy, along with their estimated values. if the items to be covered total more than $3000, the insurance company charges an annual premium of 23% of the total value of the items. if the items to be covered total $3000 or less, the insurance company charges an annual premium of 20% of the total value of the items.

Answers: 1

Answer

Business, 22.06.2019 12:10

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)

Answers: 1

Answer

Business, 23.06.2019 02:40

Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?

Answers: 2

Answer

Business, 23.06.2019 05:30

Aslam wants to create multiple worksheet containing common formatting styles for his team members. which file extension him to save these worksheets? [templates,workbooks,files] aslam to create multiple worksheets with common styles. he needs to save them with the [xlsb,xlts,xls,xlsm] extension.

Answers: 2

Answer

You know the right answer?

On april 1, 2017, shannon company, a u. s. company, borrowed 100,000 euros from a foreign bank by si...

Questions