Please help with the last one in RED X 2-a. What amounts relating to the loan will appear on AML's statement of financial position on 31 December 20X9? (Do not roundintermediate calculations.)O Answer is complete and correct.Statement of Financial PositionLong-term notepayableAccrued interestpayable$ 21,120,000$ 1,126,4002-b. What amounts are included in earnings for 20X9? (Do not round intermediate calculations.)Answer is complete but not entirely correct.Statement of Comprehensive IncomeInterest expense$ 1,164,800Foreign exchange gain$ (960,000) X On 1 May 20X9, All-Man Imports Ltd. (AML) obtained a five-year loan from a major New York bank. The loan is for US$24,000,000,bears interest at 8% per annum (paid annually on the loan anniversary date), and matures on 31 December 20X14. AML reports inCanadian dollars. At the date the note was issued, the exchange rate was US$1.00 = Cdn$0.92. On 31 December 20X9, the exchangerate was US$1.00 = Cdn$0.88, and the average exchange rate for the last 8 months of the year was US$1.00 = Cdn$0.91.Required:1. Prepare the journal entry to record the loan on 1 May 20X9. (If no entry is required for a transaction/event, select "No journal entryrequired" in the first account field.)Answer is complete and correct.NoTransactionGeneral JournalDebitCredit11Cash22,080,000 OLong-term note payable22,080,000

As per US GAAPs, effect of foreign currency fluctuations on Assets or Liabilities will be recorded…

2-a. What amounts relating to the loan will appear on AML's statement of financial position on 31 December 20X9? (Do not round intermediate calculations.) Answer is complete and correct. Statement of Financial Position Long-term note payable Accrued interest payable $ 21,120,000 $ 1,126,400 2-b. What amounts are included in earnings for 20X9? (Do not round intermediate calculations.) Answer is complete but not entirely correct. Statement of Comprehensive Income Interest expense $ 1,164,800 Foreign exchange gain $ (960,000) X

2-a. What amounts relating to the loan will appear on AML's statement of financial position on 31 December 20X9? (Do not round intermediate calculations.) Answer is complete and correct. Statement of Financial Position Long-term note payable Accrued interest payable $ 21,120,000 $ 1,126,400 2-b. What amounts are included in earnings for 20X9? (Do not round intermediate calculations.) Answer is complete but not entirely correct. Statement of Comprehensive Income Interest expense $ 1,164,800 Foreign exchange gain $ (960,000) X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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AutoSave On Exam 2 ch 14-16.xlsx - Saved - O Search Rolando Borjas Jr. 困 File Home Insert Page Layout Formulas Data Review View Help A Share P Comments E A I AutoSum - Fill v X Cut - A A° 22 Wrap Text Calibri 11 General B Copy Paste BIU v A v EEE E E E Merge & Center $ • % 9 8 -98 Conditional Format as Cell Insert Delete Format Sort & Find & Ideas Sensitivity S Format Painter Formatting v Table v Styles v O Clear v Filter v Select v Clipboard Font Alignment Number Styles Cells Editing Ideas Sensitivity AG28 fe P R S V Y AA АВ AC AD AE AF AG АН Al AJ AK AL AM AN AO AP AQ AR AS 16 The Annapolis Corporation's stockholders' equity accounts have the following balances as of January 1, 2016: 12% preferred stock, cumulative, $50 par, 10,000 shares issued and outstanding $ 500,000 5 Common stock, $10 par (100,000 shares issued and outstanding) 1,000,000 Additional paid-in capital: common 1,000,000 6 1,000,000 7 Retained earnings 3,750,000 8 Total stockholders' equity 6,250,000 9 10 Annapolis…
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AutoSave Off H Document2 - Word P Search (Alt+Q) Sign in File Design References Mailings Review View Help Grammarly Picture Format P Comments A Share Home Insert Draw Layout P Find - - A A Aa v A = - E - E G Times New Roman v 12 Normal No Spacing Heading 1 Replace = = 1E v Editor Open Grammarly Paste BIU I U v - 2. A - ab x, x' A . A Select v Undo Clipboard a Font Paragraph Styles Editing Editor Grammarly a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at year-end? Assets Liabilities Equity Beginning $ 200,000 = 150,000 Change 80,000 = 46,000 + Ending Page 1 of 1 O words Text Predictions: On * Accessibility: Good to go O Focus 110% 9:58 PM P Type here to search 49°F 3/20/2022 近

List Paragraph For the... badiya aldujaili BA AutoSave ff Search EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut - A^ A° Aav A E - E - E E E O Find - Calibri (Body) 11 AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa 自Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em... A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1. 2 4 5 6. 7 If Busby Corporation's variable cost ratio is 0.75, targeted after tax net income is $27,580 (tax rate of 20%), and targeted sales volume in dollars is $219,000 then Busby's total fixed costs are: a. $27,170 b. $71,380 c. $20,275 d. $136,670 e. $129,775 f. $26,350 g. $54,750 Page 3 of 3 331 words English (United States) Focusם 160% 8:28 PM O Type here to search ENG 2/11/2021 (凸) . I . I ..?. . . E • . . L. . . t .. I ..
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Topic: Uni X U2_AS i Topic: Uni X M Question X M Question x M Question √x ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https% 253A%252F%252Flms.mheducation.com%252Fmghmiddle Complete this question by entering your answers in the tabs below. Required 1 Required 2 F2 Moab Incorporated manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. a. Moab Incorporated sold a machine that it used to make computerized gadgets for $30,600 cash. It originally bought the machine for $21,400 three years ago and has taken $8,000 in depreciation. b. Moab Incorporated held stock in ABC Corporation, which had a value of $23,000 at the beginning of the year. That same stock had a value of $26,230 at the end of the year. c. Moab Incorporated sold some of its inventory for $9,200…
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