On January 1, 2011, Ginseng Inc. entered into a forward contract to purchase U.S. $5,000 for $5,280
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
January 1 2011 No journal entry nece...View the full answer
Answered By
Shadrack Mulunga
I am a Biochemistry by profession. However, I have explored different fields of study. My quest to explore new fields has helped me gain new knowledge and skills in Business, clinical psychology, sociology, organizational behavior and general management, and Project Management. I count my expertise in Project management, in particular, creation of Work Break Down Structure (WBS) and use of Microsoft Project software as one of my greatest achievement in Freelancing industry. I have helped thousands of BSC and MSC students to complete their projects on time and cost-effectively using the MS Project tool. Generally, I find happiness in translating my knowledge and expertise to success of my clients. So far, i have helped thousands of students to not only complete their projects in time but also receive high grades in their respective courses. Quality and timely delivery are the two key aspects that define my work. All those who hired my services always come back for my service. If you hire my services today, you will surely return for more. Try me today!
5.00+
154+ Reviews
289+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Question Posted:
Students also viewed these Accounting questions
-
On January 1, 2014, Ginseng Inc. entered into a futures contract to purchase U.S. $5,840 for $6,010 Canadian in 30 days on Futures Exchange. On January 15, the fair value of the contract was $38...
-
On January 1, 2014, Ginseng Inc. entered into a forward contract to purchase U.S. $5,000 for $5,280 Canadian in 30 days. On January 15, the fair value of the contract was $35 (reflecting the present...
-
On January 1, 2017, Ginseng Inc. entered into a forward contract to purchase U.S. $6,000 for $6,336 Canadian in 30 days. On January 15, the fair value of the contract was $40 (reflecting the present...
-
On February 1, 2020, Sheridan Company sells merchandise on account to Carla Vista Company for $6490. The entry to record this transaction by Sheridan Company is Sales Revenue Accounts Payable Notes...
-
Suppose we flip a balanced coin five times and let the random variable represent the number of times heads occurs. (a) Sketch the CDF of X fx (x). (b) Write fx (x), analytically in terms of unit step...
-
On a hot day, the temperature of a race track is higher than that of the surrounding air. The track temperature is highly influential in determining the rate of tire degradation for a race car....
-
According to Figure 1.2, intraEuropean Union trade accounts for a huge proportion of EU trade. What factor or factors might account for this fact? Asiab exports: $19.9 billion to U.S. & Canada ($4.9)...
-
The email server at Rockbottom University has been experiencing downtime. Let us assume that the trials of an associated Markov process are defined as one-hour periods and that the probability of the...
-
Given a system of 4 processes with a set of constraints described by the following precedence relation: {(P1, P3), (P1, P4), (P2, P4)} The processes access memory locations according to the following...
-
Puff n Stuff Services is a small company that assembles mailings for clients in the Atlanta area. Different-size envelopes are stuffed with various items such as coupons, advertisements, political...
-
Fresh Produce Ltd. entered into a purchase commitment contract to buy apples from Farmers Corp.; however, the contract stipulates that Fresh Produce Ltd. can settle the contact on a net basis. Fresh...
-
The 2012 income statement of Schmidt Corporation showed net income of $1,230,000 and a loss from discontinued operations of $105,000. Schmidt had 40,000 common shares outstanding all year. Prepare...
-
The model given by the output in Exercise 9.7, with n = 30. Exercise 9.7 Find and interpret a 95% confidence interval for the slope of the model indicated. Coefficients: Estimate Std.Error t value...
-
Impact of September 11 on Air Travel in the United States. The Research and Innovative Technology Administrations Bureau of Transportation Statistics conducted a study to evaluate the impact of the...
-
The text describes how the detrimental symptoms associated with the disease phenylketonuria (PKU) are caused by a faulty gene. However, a change in diet can prevent these symptoms. Pick a trait of...
-
Upon the birth of your son, you open an account to fund his college education. You deposit $1,500 to open the account. Each year, on his birthday, you make another deposit, each being 15 percent...
-
The dataset ToyotaCorolla.csv contains data on used cars on sale during the late summer of 2004 in the Netherlands. It has 1436 records containing details on 38 attributes, including Price, Age,...
-
An Italian food company that operates several restaurants across seven European countries plans to open a second outlet in Paris. As part of the planning phase, the management would like to see how...
-
Using the arguments of this section, can you give a reasonable explanation why the elements F and Cl are gases, that is, why a molecule of two F or Cl atoms would be very weakly bound? In particular,...
-
Avatar Financials, Inc., located on Madison Avenue, New York City, is a company that provides financial advice to individuals and small- to mid-sized businesses. Its primary operations are in wealth...
-
Distinguish between the following interest rates for bonds payable: (a) Yield rate (b) Nominal rate (c) Stated rate (d) Market rate (e) Effective rate
-
Distinguish between the following interest rates for bonds payable: (a) Yield rate (b) Nominal rate (c) Stated rate (d) Market rate (e) Effective rate
-
Distinguish between the following interest rates for bonds payable: (a) Yield rate (b) Nominal rate (c) Stated rate (d) Market rate (e) Effective rate
-
Thanasi has a business snowplowing. He uses a 2018 Ford Rapture with a snowplow outfitted to it. While plowing a driveway, he negligently ran it into the side of the neighbour's house. The damage to...
-
Mary was so excited about the holiday shopping season that she could hardly wait for the Black Friday sales. She got up early and spent all day at her favorite store, Mega Deals, shopping. Mary was...
-
This can be done as a group or individually. If done in a group, all group members must submit a copy of this assignment to receive a grade. If you were to open a business, what type of business...
Study smarter with the SolutionInn App