ADVANCED ACCOUNTING(LL) W/CONNECT
13th Edition
ISBN: 9781260282382
Author: Hoyle
Publisher: MCG
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Textbook Question
Chapter 9, Problem 18P
What is the net impact on Micro’s net income for the quarter ended June 30, 2017, as a result of this forward contract hedge of a firm commitment?
- a. $–0–.
- b. $2,400 increase in net income.
- c. $4,000 decrease in net income.
- d. $8,000 increase in net income.
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If Night Owl Inc. calculated the following for their debt-to-equity ratio over two years, did the ratio
improve or worsen?
2021 = 1.4
2020 = 0.9
O A Improve
O B. Worsen
O C. Same
OD, Unknown
PLASMA SCREENS CORPORATION
Balance Sheets
December 31, 2021 and 2020
2021
2020
Assets
Current assets:
Cash
Accounts receivable
Inventory
Investments
$242,000
98,000
105,000
5,000
$ 130,000
102,000
90,000
3,000
Long-term assets:
Land
Equipment
Less: Accumulated depreciation
580,000
890,000
(528,000)
$1,392,000
580,000
770,000
(368,000)
$1,307,000
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
Interest payab le
Income tax payable
Long-term liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
$ 109,000
7,000
9,000
95,000
13,000
6,000
2$
110,000
220,000
800,000
357,000
$1,392,000 $1,307,000
800,000
173,000
Total liabilities and stockholders' equity
Additional information for 2021:
1. Net income is $184,000.
2. Sales on account are $1,890,000.
3. Cost of goods sold is $1,394,250.
Years Bank Total Asset
2018 STANBIC 6,205,018
2019. STANBIC. 9,295,682
2020. STANBIC 12,742,132
2018. BARCLAYS 8,994,562
2019. ABSA 11,772,546
2020. ABSA. 12,546,473
Calculate the five-firm concentration ratio in for each year using total assets.
Chapter 9 Solutions
ADVANCED ACCOUNTING(LL) W/CONNECT
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - What factors create a foreign exchange gain on a...Ch. 9 - In what way is the accounting for a foreign...Ch. 9 - Prob. 5QCh. 9 - How does a foreign currency option differ from a...Ch. 9 - Prob. 7QCh. 9 - Why would a company prefer a foreign currency...Ch. 9 - How do companies report foreign currency...Ch. 9 - How does a company determine the fair value of a...
Ch. 9 - What is hedge accounting?Ch. 9 - Prob. 12QCh. 9 - What are the differences in accounting for a...Ch. 9 - What are the differences in accounting for a...Ch. 9 - What are the differences in accounting for a...Ch. 9 - Prob. 16QCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4PCh. 9 - Prob. 5PCh. 9 - Grace Co. had a Chinese yuan payable resulting...Ch. 9 - Prob. 7PCh. 9 - Prob. 8PCh. 9 - Prob. 9PCh. 9 - Prob. 10PCh. 9 - Prob. 11PCh. 9 - Prob. 12PCh. 9 - On March 1, Pimlico Corporation (a U.S.-based...Ch. 9 - Torres Corporation (a U.S.-based company) expects...Ch. 9 - Prob. 15PCh. 9 - What was the net impact on Jensen Companys 2018...Ch. 9 - What was the net increase or decrease in cash flow...Ch. 9 - What is the net impact on Micros net income for...Ch. 9 - What is the net impact on Micros net income for...Ch. 9 - What is Micros net increase or decrease in cash...Ch. 9 - What is the net impact on Dos Santos Companys 2017...Ch. 9 - Prob. 22PCh. 9 - Prob. 23PCh. 9 - Prob. 24PCh. 9 - Prob. 25PCh. 9 - Prob. 26PCh. 9 - Prob. 27PCh. 9 - Prob. 28PCh. 9 - Prob. 29PCh. 9 - Prob. 30PCh. 9 - Prob. 31PCh. 9 - Use the same facts as in Problem 31 except that...Ch. 9 - On June 1, Alexander Corporation sold goods to a...Ch. 9 - On June 1, Cairns Corporation purchased goods...Ch. 9 - Prob. 35PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 40PCh. 9 - Based on past experience, Leickner Company expects...Ch. 9 - Prob. 42PCh. 9 - RESEARCH CASEINTERNATIONAL FLAVORS AND FRAGRANCES...Ch. 9 - Prob. 2DYSCh. 9 - Prob. 3DYSCh. 9 - ANALYSIS CASECASH FLOW HEDGE On February 1, 2017,...Ch. 9 - Prob. 5DYSCh. 9 - COMMUNICATION CASEFORWARD CONTRACTS AND OPTIONS...
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