MNC Corp. (a U. S.-based company) sold parts to a South Korean customer on December 1, 2015, with payment of 10 million South Korean won to be received on March 31, 2016. The following exchange rates apply: Date Spot Rate Forward Rate (to March 1, 2016) December 1, 2015 $ 0.0035 $ 0.0034 December 31, 2015 0.0033 0.0032 March 1, 2016 0.0038 N/A Assuming that MNC did not enter into a forward contract, how much foreign exchange gain or loss should it report on its 2015 income statement with regard to this transaction

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer

Shawn received an e-mail offering a great deal on music, movie, and game downloads. he has never heard of the company, and the e-mail address and company name do not match. what should shawn do?