Question 3.3. Assume you work for a Norwegian company exporting a container of Salman Azerbaijan or Haiti. The customs official informs you that there is a delay in clearing your container through customs, and it may last a month. However, if you are willing to pay an "expediting fee" of $200, he will try to make it happen in one day. What are you going to do?

Question 3.3. Assume you work for a Norwegian company exporting a container of Salman Azerbaijan or Haiti. The customs official informs you that there is a delay in clearing your container through customs, and it may last a month. However, if you are willing to pay an "expediting fee" of $200, he will try to make it happen in one day. What are you going to do?

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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K You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three suppliers: Thailand Polishing, India Shine, and Sacramento Glow. Thailand Polishing has submitted a bid of 2,000 baht. India Shine has submitted a bid of 2,000 rupee. Sacramento Glow has submitted a bid of $200. You check with your local bank and find that $1 = 10 baht and $1 = 8 rupee. The final destination for the disks is New Delhi, India and there is a 30% import tax. Thailand Polishing and Sacramento Glow are based outside of India and India Shine is based in India. The price per unit (in dollars), including import tax (if any) for Thailand Polishing = $. (Enter your response rounded to the nearest penny.) The price per unit (in dollars), including import tax (if any) for India Shine = $. (Enter your response rounded to the nearest penny.) L-11-\..\ ( ------- n
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Ahmed is an Omani importer. He is supposed to pay USD 250,000 in 60 days. He expects that OMR will depreciate against USD. What do you recommend him? Getting a long position on a forward contract of USD 300,000. Getting a short position on a forward contract of the required amount. Getting a long position on a forward contract of the required amount. Getting a short position on a forward contract with a maturity of 55 days.
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Question You are a USA Manager of Apple Phone (iPhone). Your company Apple export and market iPhone in Malaysia. Malaysia currency is Ringgit and USA currency is US Dollar. The current exchange Rate is: 4 Ringgit = 1 US Dollar. In 2015 the rate was as 4.25 Ringgit = 1 US Dollar. In 2018 the rate was as 3.70 Ringgit = 1 US Dollar. In 2022 the rate is as 4.10 Ringgit = 1 US Dollar. You (your company Apple) exported iPhone to Malaysia as follows in million: In 2015 Total Export = 55m Ringgit. In 2018 Total Export = 77m Ringgit. In 2022 Total Export = 40m Ringgit. Now you calculate your profit in these three time points. When you earn more and when you earn less. How does fluctuation of exchange rate of these two currencies (USD and RM) affect your profit?
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A1 2b Your Canadian company processes raw sugar for sale in the United States, and the firm has just received a container of raw material from the UK. You have an invoice that asks you to pay £20,000 in 30 days. The current exchange rate is $1.75/£. Invoice amount = £20,000 Exchange rate 1£ = $ 1.75 Cost of bill today in Canadian $ = Invoice amount*Exchange rate 1£ = 20,000*1.75 = Canadian $ 35,000 If you thought the dollar would trade at $2.0/£ in 30 days, what should you do?
11:09 PM Sun Aug 13 Assignment Chapter 6 Question 3 of 4 (a) Accounts receivable (net) Short-term investments Inventory Prepaid insurance Property, plant, and equipment (net) Accounts payable. Wages payable Income tax payable Sales tax payable Notes payable (due within one year). Bank loan payable (due in three years) Current ratio Quick ratio eTextbook and Media education wiley.com Save for Later 130,000 28,000 390,000 46,800 960,000 Calculate the current ratio and quick ratio for Liquid Company. (Round answers to 2 decimal places, e.g. 15.25.) 93,000 37,000 50,000 10,000 83,000 50,000 24% -/1 E 1 Attempts: 0 of 3 used Submit Answer
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Question 2 You have the opportunity to store your hard-earned money in a French or a Japanese bank account. The Japanese bank account promises an interest rate of 2% a year. If you deposit 1000 Euro in the French bank account, interests will accrue so that you will have 1105 Euros in two years. Today's exchange rate is 1 Euro to 129.60 Yen. a) What should the 1-year forward exchange rate be for you to be indifferent between the two accounts? Make sure you explain what theories justify your calculations b) If the yearly inflation rate for France is 4%, what do you expect the Japanese inflation to be?
Question 3 Consider the following information. 1. On September 1, 2022, a US firm contracts to buy equipment with an asking price of £100,000 from a firm in the U.K. The firm will take delivery and will pay for the equipment on March 1, 2023. 2. On that same day, September 1, 2022, the US firm enters into a forward contract to buy £100,000 for US$1.60/£ on March 1, 2023. 3. Spot rates and forward rates were quoted as follows: Spot Rate $1.59/£ $1.55/£ March 1, 2023 $1.57/£ On March 1, 2022, the payment of £100,000 was made to the supplier of the equipment. 4. September 1, 2022 September 30, 2022 Forward Rate $1.60/£ $1.53/£ Required: a. Prepare the journal entries needed for the forward contract transaction done on September 1, 2022. b. Prepare the journal entries needed for the transactions to track the forward contract on September 30, 2022, the financial year-end of the US firm. c. Prepare the transactions for the recognition of the actual purchase of the equipment and settlement of…