Brief, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2020, Brief correctly included this receivable for 372,500 local currency units (LCU) in its balance sheet at $240,000. When Brief collected the receivable on February 15, 2021, the U.S. dollar equivalent was $252,500. In Brief's 2021 consolidated income statement, how much should it report as a foreign exchange gain

Answers

Answer 1

The amount that should be reported as a foreign exchange gain is: $12,500.

Foreign exchange gain

Using this formula

Foreign exchange gain=U.S. dollar equivalent - Local currency units (LCU)

Let plug in the formula

Foreign exchange gain=$252,500-$240,000

Foreign exchange gain=$12,500

Therefore the amount that should be reported as a foreign exchange gain is: $12,500.

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Related Questions

a borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5 percent and monthly payments. what portion of the first month's payment would be applied to interest

Answers

The interest portion in the first payment is 1041.65 dollars which are calculated by multiplying 250,000 dollars by 0.0041666 rate of interest and the percentage of interest portion is equal to 77.62%.

What is a mortgage loan?

A loan mortgage is a secured mortgage that lets you avail finances through imparting an immovable asset, which includes a residence or business property, as collateral to the lender. The lender continues the asset till you pay off the mortgage.

here, the given information -

Monthly payment formula of the mortgage loan:

[tex]Monthly loan payment = P \times\, r\, \times \frac{(1+r)^{n} }{(1+r)^{n} - 1 }[/tex]

P: Principal = $250,000

r is rate= 5%, as it is paid monthly, therefore 5/12% - 0.41666%

n = 30*12 - 360months

[tex]\rm\, Monthly \,loan \,payment = 250,000 \times\, 0.0041666\, \times \frac{(1+0.0041666)^{360} }{(1+0.0041666)^{360} - 1 }\\\\Monthly \,loan \,payment = 1041.65 \times \frac{(1.0041666)^{360} }{(1.0041666)^{360} -1 } \\\\Monthly \,loan \,payment = 1041.65 \times \frac{4.4676}{4.4676 - 1} \\\rm\,\\Monthly \,loan \,payment = \$1342.05[/tex]

Now, the interest portion in the first payment is 0.0041666 * 250,000 = $1041.65

Percentage of interest portion in the first monthly payment:

[tex]\rm\, Percentage \,of \,interest\, portion = \frac{1041.65}{1342.05} \\\\\rm\, Percentage \,of \,interest\, portion = 77.62\%[/tex]

Thus, the interest portion in the first payment is 1041.65 dollars which is calculated by multiplying 250,000 dollars by 0.0041666 rate of interest and the percentage of interest portion is equal to 77.62%.

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Software upgrade times (in minutes) are being evaluated. samples of five observations each have been taken, and the results are as listed.
sample
1 2 3 4 5 6
79.2 80.5 79.6 78.9 80.5 79.7 78.8 78.7 79.6 79.4 79.6 80.6 80.0 81.0 80.4 79.7 80.4 80.5 78.4 80.4 80.3 79.4 80.8 80.0 81.0 80.1 80.8 80.6 78.8 81.1

Answers

According to the information above, the average time of each sample is: Sample 1 = 79.7, Sample 2 = 79.2, Sample 3 = 80.3, Sample 4 = 79.8, Sample 5 = 80.3 and, Sample 6 = 80.2.

How to calculate the average time in minutes of each sample?

To calculate the average time (in minutes) of each sample, we must add all the values ​​and then divide the result by the number of values ​​that we used, in this case the number five as shown below:

Sample 1 = 79.2 + 80.5 + 79.6 + 78.9 + 80.5 = 398.7398.7 ÷ 5 = 79.7

Sample 2 = 79.7 + 78.8 + 78.7 + 79.6 + 79.4 = 396.2396.2 ÷ 5 = 79.2

Sample 3 = 79.6 + 80.6 + 80.0 + 81.0 + 80.4 = 401.6401.6 ÷ 5 = 80.3

Sample 4 = 79.7 + 80.4 + 80.5 + 78.4 + 80.4 = 399.4399.4 ÷ 5 = 79.8

Sample 5 = 80.3 + 79.4 + 80.8 + 80.0 + 81.0 = 401.5401.5 ÷ 5 = 80.3

Sample 6 = 80.1 + 80.8 + 80.6 + 78.8 + 81.1 = 401.4401.4 ÷ 5 = 80.2

According to the above, it can be inferred that the samples that took the longest time are Sample 3 = 80.3, and Sample 5 = 80.3. On the other hand, the sample that took the least time was: Sample 2 = 79.2.

Note: This question is incomplete because there is some information missing. The question is:

What is the average time (in minutes) of each sample?

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To what extent does woolworths have over the macro environment

Answers

The external environmental analysis of Woolworths
They include customers, suppliers, intermediaries, competitors and the public. On the other hand, the macro environments are those factors that affect Woolworths from outside. They include: economic, social, technological, legal and demographic factors.

Selling skills: mastery test
submit test
5
type the correct answer in the box.
identify the approach method in the given scenario.
laura works for a company that sells luxury yachts. laura approaches a customer by offering the keys to a yacht and encouraging them to take it
a
out for a test drive around the marina and out into the harbor. laura has adopted the
approach method.
reset
next

Answers

When Laura encourages the buyer to test drive the yacht, she has adopted the Personality Approach Method.

What is the Personality Approach Method?

The personality approach method occurs when the seller studies the buyer to determine what will be most suited to their needs.

He studies the buyer and to instill trust, he might encourage them to test the item that they intend to acquire. This is the approach Laura used.

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When a banker accepts a deposit of $1,000 in cash and puts $200 aside as required reserves and then makes a loan of $800 to a new borrower, this set of transactions

Answers

The act of providing a loan by the banker to the borrower amounting to $800 after setting aside the reserve amount of $200 contributes to the increase of the money supply by $800.

What is the money supply?

The money supply is the amount that a public held at a point in time including currency notes, coins, and the bank account balances.

When the banker is giving the loan to the borrower at $800 then it infuses the money into the economy as this amount is further given as a loan by another bank to another borrower. This whole cycle goes on to continue till the amount reaches zero.

Therefore, the money supply increases by $800 when the banker gives loans to the borrower for the amount of $800.

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2. What does AOC stand for?
d. Area of Concentration
c. Area of Careers
b. Awareness of Careers
na Awareness of College

Answers

Answer:

The answer is D. Area of Concentration

Explanation:

Area of concentration (AOC) must be listed along with a skill identifier (if applicable) and listed as the primary specialty.

How much would Software E cost you in the long run?

Answers

Answer:

perturbateur ( le temps, le lieu, les personnages[description], la victime, l'enqueteur )

les peripeties

le denouement

A veterinary practice has added a pet boarding and grooming facility. Most of the practice's competitors also provide these services. The veterinary practice is gaining competitive:

Answers

The veterinary practice is gaining competitive because of its parity with comparison to competitors.

What is a competitive advantage?

Factors that enable a corporation to produce goods or services quicker or more cheaply than its competitors are referred to as competitive advantage. These enable the producing unit to earn higher sales or higher margins than its competitors.

There are various strategies used by competitors to gain competitive advantage which include cost leadership strategy, differentiation strategy as well as focus strategy.

In cost leadership, the strategy of low cost will be the focus, whereas in differentiation strategy segmentation of market-based on customers preferences will be done.

A veterinary practice uses parity as a competitive advantage where the goal is not to enhance business performance but to maintain the same market share. Competitive parity is a budgeting strategy used to protect a brand's image and market position.

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Capital budgeting refers to ______. Multiple choice question. budgeting for the capital needs of the organization procedures used by an organization to plan and control its portfolio of capital expenditures the portion of the budgeting project that relates to capital provided by the owners of the business

Answers

Answer: is the process a business undertakes to evaluate potential major projects or investments.

Explanation:

Unemployment that is caused by business recessions is called.

Answers

Answer:

Cyclical unemployment

Explanation:

How is a 401k different from an individual retirement account (IRA)?

A 401k is a good long-term investment strategy.
A 401k allows people to contribute before taxes.
A 401k is created by an individual who deposits money.
A 401k is created by an employer who may match contributions.

Answers

A 401(k) is a good long-term investment strategy hope it helps

The interest rate applied to the net lease receivable is the rate that amortizes the gross lease receivable to zero at the end of the lease term. the rate that amortizes the net lease receivable to zero at the end of the lease term. the implicit interest rate. the incremental borrowing rate.

Answers

The implicit interest rate is used when an interest rate applies to the net lease receivable that amortizes the gross lease receivable to zero at the end of the lease term.

What is an implicit interest rate?

This refers to the interest rate that are not specifically stated in a business transaction.

This kind of interest rate applies to the net lease receivable that amortizes the gross lease receivable to zero at the end of the lease term.

Therefore, the Option D is correct.

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Consider the following information. Suppose FC=$11,400. Further suppose that when q=9 then AVC=$1,500 and when q=10 then ATC=$2,500. If the firm decides to make 10 units (q=10), what is the MR at q=10?

Group of answer choices:
$100
$500
$700
Not enough information

Answers

Marginal Revenue can be calculated only when the price per unit is given, but here no such information is given and calculation cannot be made.

What is marginal revenue?

The additional revenue earned by a firm when it determines to produce and sell one additional unit of the same product is known as the Marginal Revenue of the same.

Marginal Revenue cannot be calculated in the absence of price information of unit or the entire cost.

Thus, option D holds true regarding Marginal Revenue.

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You are selecting a new dishwasher. You do about 150 loads per year. The less efficient model uses 9 gallons per load. The more efficient model uses 6 gallons per load. The price of water is $0.75 per 1,000 gallons. How much money will you save on water if you select the more efficient model

Answers

Answer:

150 loads at 9 gallons per load = 1,350 gallons

150 loads at 6 gallons per load = 900 gallons

The difference between 1,350 and 900 gallons is 450 gallons.

450/1000 = 45%

IF YOU DONT HAVE THAT ANSWER UP IT = $0.34

Question Mode Multiple Choice Question Remaining ______ is the key to an organization's success in changing times. Multiple choice question. consistent inflexible flexible stable

Answers

If an organization is to be successful in changing times, the key to this is to remain flexible.

What is the benefit of organization flexibility?

When a company is flexible, it is able to adapt to whatever changing situation that it finds itself in.

This means that in changing times, it adapts such that it remains profitable regardless of the new challenges it faces.

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What skills do you need be a marketing manager? as a marketing manager, you need to have skills and skills.

Answers

Answer:

You'll need:

the ability to sell products and services

excellent verbal communication skills

the ability to use your initiative

to be thorough and pay attention to detail

leadership skills

maths knowledge

business management skills

customer service skills

to be able to use a computer and the main software packages confidently

A type of problem that operations management planning helps to solve as it relates to manufacturing is: Multiple choice question. human resource issues facility layout marketing strategy development budget planning

Answers

Marketing strategy development is a  type of problem that operations management planning helps to solve as it relates to manufacturing.

What is Marketing strategy development ?

This is the type of strategy that has its focus on how to bring in new products to an already existing market.

This is used in the identification and the exploration of new opportunities that exist in a market.

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Henrietta is dealing with a morally ambiguous situation. what is most likely to be true about her situation?
a. she requires ethical reasoning to solve it.
b. it has one clear correct answer.
c. the best solution involves the virtue approach.
d. there are only wrong answers.

Answers

Henrietta is dealing with a morally ambiguous situation. what is most likely to be true about her situation is she requires ethical reasoning to solve it. Option A. This is further explained below.

What is a morally ambiguous situation?

Generally,  morally ambiguous situation is simply defined as doubt on  If something is correct or wrong.

In conclusion, A ethically problematic scenario confronts Henrietta. According to her predicament, she is more likely to use ethical reasoning to solve it.

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Why would a business prefer to keep an invention secret instead of applying for a patent

Answers

Answer Trade secrets derive their legal protection from their inherently secret nature

Aslam wants to create multiple worksheet containing common formatting styles for his team members. which file extension helps him to save these worksheets? help aslam to create multiple worksheets with common styles. he needs to save them with the extension.

Answers

The file extension that can be used to save the worksheets is Templates because he needs to save them with the .xlts extension.

What is a Worksheet?

This refers to where information is stored and contains a database with data and parameters.

Hence, we can see that because Aslam wants to make multiple worksheets that have a common formatting style for his team members, he would need to use templates that save with the .xlts extension.

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If the price is raised to $7, what would be the result in the market place? (Surplus, Shortage, or Equilibrium).

Answers

Surplus
Because the price is rising.

How does scarcity of resources affect the nations of the world?.

Answers

Answer:

Development work will be less

public will be less

many population of people may loss their life

will suffer from different diseases

Explanation:

......

______ may be merely a stage in the evolution of international companies, and that increased globalization of sales and other value chain activities will occur over time as companies accumulate international experience.

Answers

The complete statement reads "Semi globalization may be merely a stage in the evolution of international companies, and that increased...".This is further explained below.

What is Semi globalization?

Generally, Semi globalization is simply defined as a situation of imperfect cross-border integration.

In conclusion, To some extent, semi-globalization is only the beginning of a process that will eventually lead to a greater degree of globalization of sales and other value chain operations.

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In addition to creating a comfortable and welcoming banking environment, umpqua bank also strives to create a positive ____________ for its customers through its personal interactions with them, which keeps customers coming back.

Answers

Answer:

environment brainliest please

Explanation:

Which of the following is a key difference between the cases of Gutter v. Bollinger and Hernandez v. Texas?
a)Pete Hernandez committed a crime, and Barbara Grutter was innocent.
b)Barbara Grutter was a woman, and Pete Hernandez was a man.
c)Grutter v. Bollinger upheld exclusion to promote diversity, while Hernandez v. Texas denounced exclusion to promote diversity.
d)Grutter v. Bollinger upheld inclusion to promote diversity, while Hernandez v. Texas denounced inclusion to promote diversity.

Answers

Answer:

the correct answer for this question is this one 'D.' Grutter v.Bollinger upheld inclusion to promote diversity, while Hernandez v.Texas denounced Inclusion to promote diversity...

this is the key difference between the cases of Grutter v.Bollinger and Hernandez v.Texas



d)Grutter v. Bollinger upheld inclusion to promote diversity, while Hernandez v. Texas denounced inclusion to promote diversity.

The north american free trade agreement (nafta) is a trade agreement between the united states, canada, and mexico that took effect in 1994. it eliminated many tariffs and restrictions to allow free trade among these countries. discuss the positive and negative effects of the north american free trade agreement on the united states. support your conclusions with examples and evidence from the lesson.

Answers

The positive influence of NAFTA are:

Boast trade.Increase in economic output.More participation in foreign investment. etc.

What is the agreement about?

Others are:

Negative effect are:

U.S. jobs lost due to domestic manufacturers moving to lower-waged area of Mexico.Suppressed wages in terms of U.S. manufacturing plants.

Note that the North American Free Trade Agreement (NAFTA) was known to have started off  in 1994 to increase or bring about a boast in trade that took place between the U.S., Mexico, and Canada.

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When diagnosing a clutch problem, Technician A says the first steps are gathering as much information as possible from the customer. Technician B says the first step is performing a visual inspection. Who is correct

Answers

The Technician A is correct because the gathered information from the driver will give them an insight of the clutch problem.

What is a vehicle clutch problem?

This mechanical problem involves difficulties in changing the vehicle's transmission.

Hence, the Technician A is correct because the gathered information from the driver will give them an insight of the clutch problem.

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Company a has beanbag chairs and large tables instead of traditional office furniture. employees are encouraged to play games with each other and think outside of the box. working together is highly valued. company b employees wear suits and ties. there is a formal meeting every morning led by the president of the company. employees are given tasks and expected to complete them on time. employees work alone instead of on teams. the companies described above are very different when it comes to which characteristic of an organization? a. division of labor b. culture c. rules

Answers

The comparisons above mentioned are very different in reference to the cultural characteristic of an organization (Option b).

What is culture organization?

The expression 'culture organization' makes reference to the methods and strategies based on shared assumptions.

This characteristic (culture organization) may shape decisions in a given company.

In conclusion, the comparisons above mentioned are very different in reference to the cultural characteristic of an organization (Option b).

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the united states is considered to have a high standard of living because:

A. the most important sector's of its economy are agricultural

B. most of its citizens have access to necessities like food.

C. a large number of its citizens struggle to find good jobs.

D. its currency is no longer tied to precious metals like gold.​

Answers

Answer:

B. most of its citizens have access to necessities like food.

You have a small business. your first-year financials are as follows.

start-up costs $60,800
gross sales $65,800
total expenses $28, 500
income taxes $6, 370

what is the return on investment (roi)for your business?

Answers

The return on investment for the business with the given financials are as follows,

Start-up costs $60,800

Gross sales $65,800

Total expenses $28, 500

Income taxes $6, 370

Overall expenditure $95670

Return on investment,  $65800- $95670

= $-29870.

What is Return on investment?

Return on investment is a financial ratio used to calculate the benefit an investor will receive in relation to their investment cost. It is most commonly measured as net income divided by the original capital cost of the investment.

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