To determine the current worth of 4 annual payments of $1,000 at 4%, one would refer to a table for the present value of $1.

Answer:

$9.71

Explanation:

The calculations for the share price are outlined below:-

Current EPS = Net Income ÷ Total Common Shares

= $9,250,000 ÷ 5,500,000

= $1.68

Current P/E ratio = Current stock price ÷ Current EPS

= $12 ÷ $1.68

= 7.14

Projected EPS for next year = $9,250,000 × 1.25 ÷ 8,500,000

= $1.36

Forecasted stock price for next year = $1.36 x 7.14

= $9.71

1. A journal entry must be created that debits a foreign exchange gain or loss of $10 while crediting the Canadian bank account for the same amount. 4. As of today's date, a home currency adjustment must be made for the Canadian bank account. Explanation: This discrepancy stems from a foreign exchange loss. Companies operating internationally often experience gains or losses due to currency fluctuations. For instance, when preparing financial documents, you might convert Canadian dollars into your local currency, which is US dollars in this case. Subsequently, if the exchange rate shifts, and the value of the Canadian dollar rises post-conversion, an adjustment is required to reflect that gain. Conversely, if the Canadian dollar's value drops after conversion, as occurred here, then a loss has to be recorded, necessitating an adjusting entry. To rectify this, you should: Dr Foreign exchange gain/loss 10 Cr Canadian bank account 10.

Answer:a. Customer open order file ⇒ SALES ORDER DEPARTMENT

This department handles customer orders and therefore opens the customer open order file.

b. Sales journal ⇒ BILLING DEPARTMENT.To determine the billing amounts for clients, this department maintains the sales journal.

c. Journal voucher file ⇒ BILLING DEPARTMENT

The journal voucher file is created from the sales journal, which also falls under the billing department's responsibilities.

d. Cash receipts journal ⇒ CASH RECEIPTS DEPARTMENT

This department manages cash transactions that generate receipts and is responsible for the related journal.

e. Inventory subsidiary ledger ⇒ INVENTORY CONTROL DEPARTMENT

f. Accounts receivable subsidiary ledger ⇒ ACCOUNT RECEIVABLE DEPARTMENT

This department, being responsible for accounts receivables, manages the ledger that tracks these transactions.

g. Sales history file ⇒ SALES DEPARTMENT

h. Shipping report file ⇒ SHIPPING DEPARTMENT

The shipping report file contains details of goods dispatched to customers and is thus managed by the shipping department.

i. Credit memo file ⇒ CREDIT DEPARTMENT

j. Sales order file ⇒ SALES DEPARTMENT

k. Closed sales order file ⇒ SALES DEPARTMENT

The sales department supervises these last two items as everything concerning sales is under their jurisdiction, aside from initial order placements.