On november 1, 2017, bernard company (a u. s.-based company) sold merchandise to a foreign customer for 240,000 fcus with payment to be received on april 30, 2018. at the date of sale, bernard entered into a six-month forward contract to sell 240,000 fcus. the company properly designates the forward contract as a cash flow hedge of a foreign currency receivable. the following exchange rates apply:

date

spot rate

forward rate

(to april 30, 2018)

november 1, 2017

$

0.35

$

0.34

december 31, 2017

0.33

0.31

april 30, 2018

0.32

n/a

bernard's incremental borrowing rate is 12 percent. the present value factor for four months at an annual interest rate of 12 percent (1 percent per month) is 0.9610.

prepare all journal entries, including december 31 adjusting entries, to record the sale and forward contract.

what is the impact on net income in 2017?

what is the impact on net income in 2018?

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies