subject
Business, 22.04.2020 04:51 AdoNice

On September 30, 2017, Ericson Company negotiated a two-year, 1,000,000 dudek loan from a foreign bank at an interest rate of 2 percent per year. It makes interest payments annually on September 30 and will repay the principal on September 30, 2019. Ericson prepares U. S.-dollar financial statements and has a December 31 year-end. Prepare all journal entries related to this foreign currency borrowing assuming the following exchange rates for 1 dudek: September 30, 2017 $0.100 December 31, 2017 0.105 September 30, 2018 0.120 December 31, 2018 0.125 September 30, 2019 0.150 Taking the exchange rate effect on the cost of borrowing into consideration, determine the effective interest rate in dollars on the loan in each of the three years 2017, 2018, and 2019.

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 22:10
There are more than two types of bachelors’ degrees true or false?
Answers: 1
question
Business, 21.06.2019 23:30
Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall
Answers: 2
question
Business, 22.06.2019 01:30
Consider the following limit order book for a share of stock. the last trade in the stock occurred at a price of $50. limit buy orders limit sell orders price shares price shares $49.75 500 $49.80 100 49.70 900 49.85 100 49.65 700 49.90 300 49.60 400 49.95 100 48.65 600 a. if a market buy order for 100 shares comes in, at what price will it be filled? (round your answer to 2 decimal places.) b. at what price would the next market buy order be filled? (round your answer to 2 decimal places.) c. if you were a security dealer, would you want to increase or decrease your inventory of this stock? increase decrease
Answers: 2
question
Business, 22.06.2019 07:30
Read the following scenario and answer the question in 5-10 sentences. you are the owner of a small business that is a defendant in a lawsuit in federal court. you received bad news from your lawyer that the judge did not allow certain documents to be admitted as evidence in court and that the jury reached a $50,000 verdict in favor of the plaintiff. your lawyer tells you that it is within your legal right to hire him to file an appeal with the united states court of appeals. if the appellate court rules in your favor, you may be able to avoid paying part or all of the $50,000. evaluate your lawyer’s suggestion about appealing the decision.
Answers: 1
You know the right answer?
On September 30, 2017, Ericson Company negotiated a two-year, 1,000,000 dudek loan from a foreign ba...
Questions
question
Mathematics, 13.10.2019 02:50
question
Biology, 13.10.2019 02:50
question
Mathematics, 13.10.2019 02:50
question
Mathematics, 13.10.2019 02:50
Questions on the website: 13722363