Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 442 Weeks Ago, 4 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 25 May 2017 My Price 7.00

A Clarke Corporation subsidiary buys marketable equity securities and inventory

A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2015, for 100,000 pesos each. It pays for both items on June 1, 2015, and they are still on hand at year-end. Inventory is carried at cost under the lower-of-cost-or-market rule. Currency exchange rates for 1 peso follow:

Assume that the peso is the subsidiary’s functional currency. What balances does a consolidated balance sheet report as of December 31, 2015?

a. Marketable equity securities 5  $16,000 and Inventory 5  $16,000.

b. Marketable equity securities 5  $17,000 and Inventory 5  $17,000.

c. Marketable equity securities 5  $19,000 and Inventory 5  $16,000.

d. Marketable equity securities 5  $19,000 and Inventory 5  $19,000.

 

Answers

Alpha Geek
(8)
Status NEW Posted 25 May 2017 01:05 PM My Price 7.00

-----------

Attachments

1495717472-2006909_1_636312427108763171_Answer.pdf
Not Rated(0)