Even complicated and confusing topics will be easily developed and covered if you request our help writing an essay. Place an order today!

Q1. Distinguish between an upstream sale of inventory and a downstream sale. Why is it important to know whether a sale is upstream or downstream?

Q2. What factors are used to determine a reporting entity’s functional currency? Provide at least one example for which a company’s local currency may not be its functional currency.

Q3. On December 1, 20X1, Rone Imports, a U.S. company, purchased clocks from Switzerland for 15,000 francs (SFr), to be paid on January 15, 20X2. Rone’s fiscal year ends on December 31, and its reporting currency is the U.S. dollar. The exchange rates are:

December 1, 20X1 1 SFr = $0.70

December 31, 20X1 1 SFr = 0.66

January 15, 20X2 1 SFr = 0.68


Q4. Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra’s capital is $200,000, Merina’s capital is $160,000, and they share income in a ratio of 3:2, respectively.


Record Wayne’s admission for each of the following independent situations:

a. Wayne directly purchases half of Merina’s investment in the partnership.

b. Wayne invests the amount needed to give him a one-third interest in the capital of the partnership if no goodwill or bonus is recorded.

c. Wayne invests $110,000 for a one-fourth interest if Goodwill is to be recorded.





Wayne, Capital


$120,000 = $480,000 total resulting capital x 1/4

1.Find the Direct exchange rates on the two dates and comment on the strength or weakness of the USD.

January, 2017

July 2017

Indirect Exchange Rate (£/$)

£ 0.78

£ 0.82

The following is the situation raised during the inter company transfer of Inventory. You are required to fill in the necessary details:


Total intercompany sales

Resold Inventory

Inventory on Hand





Cost of Goods Sold

C = ? a



Gross Profit

1/3C = ? b


Unrealized Gains ?g

Calculate GP% ?h

Is this the question you were looking for? Place your Order Here

testimonials icon
100-150 words each response First person to respond to (Stacy) Every research study done collects demographic data and publishes it with...
testimonials icon
12 references, in-text and refrence list to be done in Harvard style, and no older than 10 years.Identify relevant literature and other sour...
testimonials icon
Complete the following problems from your textbook: Pages 497–500: 14-2, 14-6, and 14-14 (parts a–c).Pages 531–...
testimonials icon
  Application 2: Laying the Foundation for New Approaches to PracticeAs frequently noted in the litera...
testimonials icon
Develop a Comprehensive Business Plan for a Proposed Business Develop a comprehensive business plan for a new, small busine...
testimonials icon
Question description Outcomes Management Using outside references, describe outcomes management and its relationship to fitness. Wha...
testimonials icon
Critical Thinking Exercise – Week 2 Order Description Please complete the Critical Thinking Exercise on page 54 of your t...
testimonials icon
testimonials icon
Faith, thanks for your help. These questions also use the book Econ macro 3 by McEachern for sources. Thanks. ...
testimonials icon
I just need some to correct the grammar mistakes and improve my paper a little bit ...
testimonials icon
Levels of Health PromotionHealth promotion enhances the level of health of an individual and community toencourage them to attain a quality of life....

Other samples, services and questions:

Calculate Price

When you use PaperHelp, you save one valuable — TIME

You can spend it for more important things than paper writing.

Approx. price
Order a paper. Study better. Sleep tight. Calculate Price!
Created with Sketch.
Calculate Price
Approx. price