In 1995, Ajax Manufacturing's German subsidiary has the following balance sheet: Cash, marketable securities Accounts receivable Inventory (at market. Fixed Assets Total assets DM 250,000 1,000,000 2,700,000 5,100,000 ----------------- DM 9,050,000 Current liabilities Long-term debt Equity Total liabilities plus equity DM 750,000 3,400,000 4,900,000 --------------- DM 9,050,000 Suppose the DM appreciates from $0.70 to $0.76 during the period. 10.16 Under the current/noncurrent method, what is Ajax's translation gain (loss).? a) a gain of $294,000 b) a gain of $192,000 c) a loss of $174,000 d) a loss of $12,000
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In 1995, Ajax Manufacturing's German subsidiary has the following balance sheet:
Cash, marketable
securities
Accounts receivable
Inventory (at market.
Fixed Assets
Total assets
DM 250,000
1,000,000
2,700,000
5,100,000
-----------------
DM 9,050,000
Current liabilities
Long-term debt
Equity
Total liabilities
plus equity
DM 750,000
3,400,000
4,900,000
---------------
DM 9,050,000
Suppose the DM appreciates from $0.70 to $0.76 during the period.
10.16 Under the current/noncurrent method, what is Ajax's translation gain (loss).?
a) a gain of $294,000
b) a gain of $192,000
c) a loss of $174,000
d) a loss of $12,000
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- The following information is to be used in answering the following question: TT Exports (TTE)Manufacturing's foreign subsidiary has the following balance sheet: Cash, marketable securities Accounts receivable Inventory (at market. Fixed Assets Total assets FC 250,000 1,000,000 2,700,000 5,100,000 ----------------- FC 9,050,000 Current liabilities Long-term debt Equity Total liabilities plus equity FC 750,000 3,400,000 4,900,000 --------------- FC 9,050,000 Suppose the FC appreciates from $0.70 to $0.75 during the period. Under the current rate method, what is TTEs translation gain (loss)? a. a loss of $192,000 b. a loss of $12,000 c. a gain of $294,000 d. a gain of $245,000The latest statement of financial position for Malorie Limited is summarized below: GH¢'000 GHc '000 GH 000 Non-current assets (NBV) 5.700 Current assets Inventory 3.500 Receivables 1.800 5.300 Current liabilities Unsecured payables 4.000 Unsecured Bank overdraft 1.600 5.600 (300) Total assets less current liabilities 5.400 Non-Current Liabilities 10% secured debentures (13.000 Net assets 2,400 Financed by: Stated capital Income Surplus 4.000 (1.600) 2.400 Malorie's stated capital consists of 4.000.000 ordinary shares issued at GHel.00 and fully paid. The non-current assets comprise freehold property with a book value of GH¢3.000.000 and plant and machinery with a book value of GHc2,700,000. The debentures are secured on the freehold property In recent years the company has suffered a series of trading losses which have brought it to the point of liquidation. The directors estimate that in a forced sale the assets will realize the following amounts. GHSFreehold premises Plant and…XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…
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