What would go on my Income Statement?

Using accrual accounting, when is revenue recognized?A. When cash transfers B. When the performance obligation is fulfilled  C. When products is received FOB shipping point D. When the products is shipped FOB destin

What document signals that a company should record thepurchase of goods on account?a. Purchase requisitionb. Purchase orderc. Receiving reportd. Supplier invoice

Lancer, Inc. (a U.S.-based company). establishes a subsidiary in Croatia on January 1, 2019. The following account balances for the year ending December 31, 2020, are stated in kuna (K), the local currency: Sales 200,000 100,000 60,000 12,000 K Inventory (bought on 3/1/20) Equipment (bought on 1/1/19) Rent expense Dividends (declared on 10/1/20) Notes receivable (to be collected in 2023) Accumulated depreciation-equipment Salary payable Depreciation expense 22,000 36,000 18,000 5,000 6,000 The following U.S.S per kuna exchange rates are applicable: January 1, 2019 Average for 2019 January 1, 2020 March 1, 2020 s0.19 0.20 0.24 0.25 0.27 October 1, 2020 December 31, 2020 Average for 2020 0.28 0.26 Lancer is preparing account balances to produce consolidated financial statements. a. Assuming that the kuna is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements? b. Assuming that the U.S. dollar is the…