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- Please answer the next question based on the following Chase Bank's direct spot and forward markets quotes for MXN right now (1/1/XX), and expected quotes three months later (4/1/XX), and six months later (7/1/XX). Current Quotes 1/1/XX 0.2015 MXN Spot 3 Month Forward 0.2076 6 Month Forward 0.2107 On 1/1/XX, Dell bought a 6-month to Chase, Chase will pay. USD 225,800, MXN 1,000,000 O MXN 225,800; USD 210,700 USD 210,700; MXN 1,000,000 O MXN 1,000,000; USD 225,800 Expected Quotes 4/1/XX 7/1/XX 0.2034 0.216 0.2096 0.2225 0.2127 0.2258 forward contract of MXN 1,000,000 from Chase. Based on this contract, on 7/1/XX, Dell will pay to Dell. www.A 12-month policy is written on April 1, 2021, for a premium of $1,200. As of December 31, 2021, what are the following amounts for this policy: Written Premium (calendar year 2021) Earned Premium (calendar year 2022) In-force premium (as of 12/31/2021)An obligation of Php 27,300 is due on Feb. 28, 2017. what is the value of this obligation on November 28, 2014 at 12% compounded semiannually?
- Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.Pinky Enterprises entered into a real estate lease agreement for a new building on March 1, 2023. The lease is an operating lease and is fully executed on that day. Recognizing that it will take a few months for business to be in full swing, Pinky was able to negotiable for 6 months of free rent before rent payments will commence. Accordingly, the terms of the lease require Pinky to make 54 consecutive payments of $24,600 per month beginning on September 1, 2023. The lease term spans five years. Pinky's financial year-end is December 31, 2023. What amount will Pinky record as its lease expense with respect to this building for the year ended December 31, 2023? a. $221,400 O b. $199,260 O c. $98,400 O d. $246,0001. Download the monthly prices for IVV and VOO for the time period between January 1, 2018 and December 31, 2022 [60 observations]
- On January 1, 2021, Wetick Optometrists leased diagnostic equipment from Southern Corp., which had purchased the equipment at a cost of $1,820,500. The lease agreement specifies six annual payments of $380,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2025. The six-year lease term ending December 31, 2026 (a year after the final payment), is equal to the estimated useful life of the equipment. The contract specifies that lease payments for each year will increase on the basis of the increase in the Consumer Price Index for the year just ended. Thus, the first payment will be $380,000, and the second and subsequent payments might be different. The CPI at the beginning of the lease is 152. Southern routinely acquires diagnostic equipment for lease to other firms. The interest rate in these financing arrangements is 10%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables…14. Jindal Industries issues a $1,200,000, 10%, 10-year mortgage note on December 31, 2020, to obtain financing for a new building. The terms provide for semiannual installment payments of $96,290. Instructions: a) Prepare the entry to record the mortgage loan on December 31, 2020, and b) Prepare a schedule showing semiannual installment payment for 2021.On July 1, 2020, Shroff Company leased a warehouse building under a 10-year lease agreement. The lease requires quarterly lease payments of $4,500. The first lease payment is due on September 30, 2020. The lease was reported as a finance lease using an 8% annual interest rate. a. Prepare the journal entry to record the commencement of the lease on July 1, 2020. b. Prepare the journal entries that would be necessary on September 30 and December 31, 2020. c. Post the entries from parts a and b in their appropriate T-accounts. d. Prepare a financial statement effects template to show the effects template to show the effects of the entries from parts a and b on the balance sheet and income statement.
- A 3-year lease is initiated on January 1, 2017 for equipment with an expected useful life of 6 years. The Lessor is Supreme Asset Management Company (SAMC) and the lessee is Bogue Distributors Limited (BDL). The equipment reverts to SAMC upon expiration of the lease agreement. Three Payments are due to SAMC in the amount of $180,000 per year beginning December 31, 2017. An additional sum of $12,000 is to be paid annually by BDL for insurance. BDL guarantees a $20,000 residual value on December 31, 2019 to SAMC. The leased asset is expected to also have a $20,000 salvage value on December 31, 2019; therefore, the asset should be depreciated down to the $20,000 expected residual value. The lessee's incremental borrowing rate is 14% (and the lessor's implicit rate is 12%). PVIFA 14% PVIFA 12% 0.8772 0.8929 | 0.7972 0.7118 Year 1 Year 2 0.7695 Year 3 0.6750 Required: Record all the journal entries in the books of the BDL over the life of the lease (supported by the relevant calculations).…Find the proceeds of an eighteen-month, $1,200 promissory note dated August 7, 2015 with interest at 9% discounted on October 20, 2016 at 7%.