Business, 06.05.2020 04:30 Naysa150724

Shames Company is located in London, England. The local currency is the British pound (£). On January 1, 20X8, Pit Company purchased an 70 percent interest in Shames for $408,000, which resulted in an excess of cost-over-book value of $64,000 due solely to a trademark having a remaining life of 10 years. Pit uses the equity method to account for its investment. hames’s December 31, 20X8, trial balance has been translated into U. S. dollars, requiring a translation adjustment debit of $6,800. Shames’s net income translated into U. S. dollars is $71,000. It declared and paid a £17,000 dividend on May 1, 20X8. Relevant exchange rates are as follows: € $ January 1, 20X8 1 = 1.60 May 1, 20X8 1 = 1.64 December 31, 20X8 1 = 1.65

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 11:20

In 2000, campbell soup company launched an ad campaign that showed prepubescent boys offering soup to prepubescent girls. the girls declined because they were concerned about their calorie intake. the boys explained that “lots of campbell’s soups are low in calories,” which made them ok for the girls to eat. the ads were pulled after parents expressed concern. why were parents worried? i

Answers: 2

Answer

Business, 22.06.2019 17:00

Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?

Answers: 2

Answer

Business, 22.06.2019 20:00

After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of

Answers: 1

Answer

Business, 22.06.2019 20:20

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

Answers: 1

Answer

You know the right answer?

Shames Company is located in London, England. The local currency is the British pound (£). On Januar...

Questions