The steps to be followed by the exporter to take the effect to export to Country P from City C. Introduction: Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

All 3 questions take and provide correct solutions

Carmelita Inc. has the following information available: Costs from Beginning Direct materials Conversion costs Inventory Costs from Current Period $5,100 6,800 $ 20,200 1,46,900 At the beginning of the period, there were 500 units in a process that was 45% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,100 units were started and completed. The ending inventory contained 400 units that were 29% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The equivalent units of production for direct materials and conversion costs, respectively, were: a. 5,100 from direct materials and 5,491 for conversion costs. b. 5,491 for direct materials and 5,500 for conversion costs. c. 5,491 for direct materials and 5,491 for conversion costs. d. 5,500 for direct materials and 5,491 for conversion costs.

provide correct solutions

Answer 2

Question

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Answer 6

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Answer 7

Chapter 16, Problem 1CTD

Summary Introduction

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Answer 8

Expert Solution & Answer

Explanation of Solution

The steps to be followed by the exporter to take the effect to export to Country P from City C:

Step: 1

Country P (importers) places an order to Country U (exporters) if they are willing to ship under the letter of credit.

Step: 2

Specification of details on delivery item and price

Step: 3

The importer should apply to any international bank (Bank of city M) to get the letter of credit in the favor of exporter.

Step: 4

The bank will send the letter of credit to the exporter’s bank (City C bank and trust).

Step: 5

The exporter’s bank will advise the exporter to open the letter of credit in its favor.

Step: 6

A common carrier is used by the exporter to importer. This will give the exporter a bill of lading.

Step: 7

The export will give 90 days’ time to export bank (City C bank and trust) which is drawn on bank of City M in agreement with letter of credit and bill of lading.

The exporter will endorse the bill of lading so that the title of goods will be transferred to holder of the document.

Step: 8

Then the exporter bank will present the draft to the importers bank and they will accept the draft and will promise to pay them in 90days

Step: 9

Bank of city M will return the draft to City C bank and trust.

Step: 10

Exporter bank will intimate the export that the draft was accepted by them and payable in 90 days.

Step: 11

Now the export will sell the draft at discount with City C bank and trust and receives the discounted cash value in return.

Step: 12

The importers bank will notify the importer on the arrival of the document and the bank will release the document and the importer can take the possession.

Step: 13

The bank of city M will receive the cash in 90 days so that it will have funds to pay the drafts which are maturing.

Step: 14

In 90 days the final stage is that the City C bank and trust will present for the payment to the bank of City M and the bank will pay.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 16 - Prob. 1CTD Ch. 16 - Prob. 2CTD Ch. 16 - Prob. 3CTD Ch. 16 - Prob. 4CTD Ch. 16 - Prob. 5CTD Ch. 16 - Prob. 1RT Ch. 16 - Prob. 1CDQ Ch. 16 - Prob. 2CDQ Ch. 16 - Prob. 3CDQ Ch. 16 - Prob. 4CDQ

The steps to be followed by the exporter to take the effect to export to Country P from City C. Introduction: Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C. Introduction: Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.

Explanation of Solution

Want to see more full solutions like this?

Chapter 16 Solutions

To discuss: The steps to be followed by the exporter to take the effect to export to Country P from City C.

Introduction:

Export refers to the sending of goods from one country to another country and whereas import refers to receiving goods from one country to another country.