The CFA franc devalues. The CFA franc was defined in terms of the French franc (FF) as CFA 50 = FF 1 from 1947 until 1994, when its value changed to CFA 100 = FF 1. Was the CFA devalued or revalued against the FF? By what percentage?
Q: 27.IAS 2, Inventories requires that the lower of cost and net realizable value shall be applied a....
A: Introduction:- Inventories are valued at cost or net realizable value (Whichever is lower) Cost of ...
Q: A group of thirty 2-year old cattle was held at January 1, 2021. On this same date, additional five ...
A: January 1, 2021 Fair value of 2 years old cattle = 35 x 12,500 = 437,500 Fair value of newborn calve...
Q: YES Partnership started operations on January 1, 201 balances : with the following capital Yves P88,...
A: Solution :- Note: As per our guidelines only the first three subparts will be solved
Q: Walsh Company manufactures and sells one product. The following information pertains to each of the ...
A: The question is based on the concept of Cost Accounting.
Q: The terms of a(n) are specified when an accountant and a client enter into a contract for the provis...
A: Accountant is the person who provides the service of book keeping, tax preparation or accounting. Th...
Q: Azure laptops has a manufacturing plant operating at full capacity has the sales of 3,000,000 for th...
A: Lets understand the basics. Financial leverage company EBIT with the EBT of the entity. Formula = EB...
Q: 20.Pomelo Company has the policy of valuing inventory at the lower of cost and net realizable value ...
A: Inventory is one of the important current asset for the business. Mostly business prefer to use lowe...
Q: .Your review of ABC Company's inventory and related records for the year revealed the following info...
A: Gross profit ratio = Gross profit / Sales where, Gross profit = Sales - Cost of goods sold
Q: Problem 6-3B Record transactions and prepare a partial income statement usim system (LO6-2, 6-5) (Th...
A: An income statement shows a company's income, expenses and profitability over a period of time C...
Q: Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt work...
A: Salary of Matt 70200 Salary of Meg 33200 Short term capital gain less short term capital loss (...
Q: LO 8.6Using the following information, prepare a bank reconciliation. • Bank balance: $4,021 • Book ...
A: Ideally cash balance as per cashbook and bank balance as per bank statement should reconcile with ea...
Q: Meena is a trader. On 31 December 2017 Meena's cash book (bank columns) showed an overdrawn balance ...
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with ...
Q: Required information The following data is provided for a PPP project. To the People To the Governme...
A: Modified B/C ratio= PW(Annual Benefits)-PW( Annual Disbenefits)-PW of (Cost recurring in 3 years)/In...
Q: Katie must decide which one of the following initiatives she will pursue. Each of the projects will ...
A: In risk management, probability distributions could be frequently used to assess the likelihood. It ...
Q: Sales 60000 Variable Costs Fixed Costs 36000 20000 Earnings Before Interest and Taxes 4000 Interest ...
A: Formula: Degree of operating leverage = ( Selling price - Variable cost ) / ( Selling price - Variab...
Q: Compute the company’s return on investment (ROI) for the period using the ROI formula stated in term...
A: The question pertains to calculation of ROI in terms of net margin and turnover. This method used tw...
Q: to adopt a charity foundation once she receives her money. She promised to donate annually to her ch...
A: The present value is the amount without the interest rate and which is equivalent to the all future ...
Q: Fact pattern: one-fourth represents secured and priority claims. 1. The "net free assets" are P75. 2...
A: 1. Total assets = P200 The assets are expected to be realized at an average of 75% of the carrying a...
Q: Sugary Company has the policy of valuing inventory at the lower of cost and net realizable value usi...
A:
Q: Complete the accounting equation, and journal entries for the transactions given below. Complete the...
A: Accounting Equation Transaction Assets = Liabilities + Capital C Can...
Q: Page 3 of 4 I. TAXABLE OR NON-TAXABLE INCOME Put a CHECK MARK on the appropriate column. If the bene...
A: Ans. De Minibus Benefits are benefits of small value given by the employer to the employees besides ...
Q: 18.Net realizable value is a. acquisition cost plus estimated costs to complete and sell b. estima...
A: Introduction:- Net realizable value method used for valuation of the ending inventory. Net realizab...
Q: Kamal invested RM10 000 for 4 years 6 months in Razak Mutual Fund earning a simple interest rate of ...
A: Interest - Interest on investment is income for the organization. It is earned on an accrual basis o...
Q: 3. Premier Tire sells three categories of tires: good, better, and best. The good tires cost $106, t...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...
Q: Silver Lining Inc. uses the perpetual inventory method to account its silver purchases. They use ave...
A: Simple Average Price Method: Under this method, materials issued are valued at average price, which...
Q: What is the journal entry to replenish the petty cash fund if expenses were Auto Expense $75, Office...
A: Petty cash is the money that a entity keeps on hand to make small payments, purchases, and reimburse...
Q: Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Begi...
A: The operating assets of the business do not include the investment in other companies or any undevel...
Q: P21.2 (LO 2, 4) (Lessee Entries and Statement of Financial Position Presentation) On January 1, 2022...
A: Lease It is a relation among two parties i.e. lessor and the lessee, In which the lessor allows to u...
Q: Indicate whether each of the following expenditure items should be classified as a function (F), org...
A: Expenses The amount that is payable by the business firms after a regular interval of time are known...
Q: 9) Building depreciation (10) Construction oquipment depreciation 40,000 30,000 Using the transactio...
A:
Q: Charmaine's employment was terminated by her employer on April 13 of the current year. Charmaine had...
A: Answer: Block 11 of employment is the record where the last day of the employee should be recorded.
Q: 11.The inventory account of Papaya Company at December 31, 2021 has a balance of P1,800,000 and was ...
A:
Q: During the course of your examination of the financial statements of Trojan Corporation for the year...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: Comprehend and Apply the elements of costing to the process environment.
A: Process Costing is used for industries involving continuous production of goods having same identifi...
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is uneamed at the end o...
A: Theory concept: Journalizing: Each and Every business transaction are to be recorded in Journal book...
Q: [The following information applies to the questions displayed below.] Tunstall, Inc., a small se...
A: Balance Sheet is called the position statement of the company because it shows the standing balances...
Q: Leni Company regularly buys merchandise from Lmao Company and is allowed trade discounts of 15% and ...
A: Note: Under FOB destination freight is the seller's expense but under FOB shipping point, freight is...
Q: Find the present value of a series of periodic payments of P2 000 made at the
A: Present value is calculated by discounting the cash flows invested in the given period. Present valu...
Q: The journal entry needed to record P5,000 of advertising for Westwood Manufacturing would include: O...
A: Advertising Expense is a financial statement account that reports the dollar amount of advertisement...
Q: April May June Manufacturing costs* $156,800 $195,200 $217,600 Insurance expense** 1,000 1,000 1,000...
A: Here in this question, we are required to calculate the cash payment. Management calculate the cash ...
Q: On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar ...
A: As per accrual concept of accounting, business should record all expenses and revenues for the parti...
Q: The present value of $42,000 to be received in two years, at 12% compounded annually, is (rounded to...
A: Answer:- correct Option is c. $33,482.
Q: Activity-Based Costing, Traditional Costing 1. The controller for Mitchell Supply Company has establ...
A: Activity based costing is one of the type of costing system, which shows that all indirect costs and...
Q: Eduard Montes generated annual compensation income of ₱ 455,000, net of statutory payments. Tax exem...
A: Tax obligation seems to be the sum of money owed to tax authorities with in manner of a tax debt. Th...
Q: April маy June Manufacturing costs* $156,800 $195,200 $217,600 1,000 Insurance expense** Depreciatio...
A: The cash expenses are the expenses that are paid in cash during the current period.
Q: Calculate F's basis for each asset received in the distribution.
A:
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end ...
A: Adjusting entries are recorded in the books in order to add the correct effect of transactions in th...
Q: Metlock Company is a multiproduct firm. Presented below is information concerning one of its product...
A: The inventory can be valued using various methods as LIFO, FIFO and average method.
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end ...
A: Answer) Journal Entry Accounting Titles Debit Credit Unearned Rent Reve...
Q: Using the following business transaction, compute for the proprietor's capital.
A: The term "proprietor's capital" alludes to the overall capital invested by the owner(s) of a firm. I...
The CFA franc devalues. The CFA franc was defined in terms of the French franc (FF) as CFA 50 = FF 1 from 1947 until 1994, when its value changed to CFA 100 = FF 1. Was the CFA devalued or revalued against the FF? By what percentage?
Solution
Concept
Currency appreciation means the increase in the value of currency in respect to the other currency
Currency devaluation means the decrease in the value of currency in respect to the other currency
Step by step
Solved in 2 steps
- Suppose it is January 1, 1994, and the Deutsche mark revalues from $0.31 at the beginning of the year to $0.35 at the end of the year. Inflation during the year is 5.2% in the U.S. and 3.5% in Germany. What is the real devaluation (-) or real revaluation (+) of the Deutsche mark during the year? a . 9.10% b . 11.02% c . - 7.30% d . - 2.60%In the beginning of January of 1994, what was the repo rate in the United States? 3.25 3.00 2.80 3.00 Was this rate higher or lower compared to previous years? lower higher O unchanged How is the repo rate determined? The repo rate is determined by an act of Congress. The U.S. Treasury sets the repo rate. MooBook ProThe Moroccan currency, dirham, is pegged to the dollar at MAD10.21/$. If the Moroccan monetary authority changes the rate to MAD9.75/$ the dirham has ______________ Question 24 options: revalued devalued appreciated depreciated
- 24) In 1999, the euro was trading at $0.84 per euro. If the euro is now trading at $0.99 per euro, what is the percentage change in the euro’s value?Let say, the spot rate of Swiss franc is $0.88 and the Canadian dollar is $0.35. The value of the Canadian dollar in Swiss franc is _______. A. about 0.3977 Swiss franc B. about 2.36 Swiss franc C. about 0.3621 Swiss franc D. about 2.51 Swiss francIn 2018, the yen went from $0.00887619 to $0.00906626. • By how much did the yen appreciate against the dollar? • By how much has the dollar depreciated against the yen?
- if the spot rate is NZ$0.50/$ and the forward rate is NZ$0.55/$.The spot exchange rate and the forward rate are C$1.03/$ and C$107/$.COMPUTE the percentage change in the NZ$/C$ during this period.When the Swiss franc appreciates. Over the past five years the Swiss franc (CHF) appreciated from CHF 1 = US$0.8215 to peak at CHF 1 = US$1.0697.a. Calculate the percentage appreciation of the Swiss franc at its peak (use a U.S. dollar perspective).b. What is the percentage depreciation suffered by the U.S. dollar over the same period? Is it simply minus (−) the rate of appreciation of the Swiss franc?If the spot rateis NZ$0.50 $and the forward rate is NZ$0.55/8.The shot exchange raterate and the forwardor C$1.031$ and c$1.07/8.rateCompute the percentage change in the NZ$/C$ during this period.
- In the Wall Street Journal, you observe that the British pound (£) is quoted at $1.65. The Australian dollar (A$) is quoted at $0.60. What is the value of the British pound in Australian dollars? a. £2.75 b. £0.36 c. A$0.36 d. none of the above e. A$2.75assume the direct quote on the euro is 2.14 and the indirect quote on the Swiss franc is 0.76. what is the cross-rate for euro's in terms of Swiss francs?The spot rate for the British pound is £.7199 = $1 and the Canadian dollar is Can$1.1022 = $1. What is the £/Can$ cross-rate?