Zeppelin Ltd Ordered a Batch of Computers from the USA

question 5

Multiple Choice

Zeppelin Ltd ordered a batch of computers from the USA on 11 November 20X4 for a total price of US$800 000. Zeppelin Ltd’s reporting date is 31 December and its functional currency is A$. The computers were delivered on 23 December 20X4 and payment was made on 15 January 20X5. The risks and benefits of the ownership transfer to the purchaser on delivery. The computers formed part of Zeppelin’s inventory and was still on hand on 31 December 20X4.
$$\begin{array}{l}\text { The following exchange rates applied: }\\\begin{array} { l l l l } 11 \text { November 20X4 } & \text { US } \$ 1.00 & = \mathrm { A } \$ 1.25 \\23 \text { December 20X4 } & \text { US } \$ 1.00 & = \mathrm { A } \$ 1.30 \\31 \text { December 20X4 } & \text { US } \$ 1.00 & = \mathrm { A } \$ 1.35 \\\text { 15 January 20X5 } & \text { US } \$ 1.00 & = \mathrm { A } \$ 1.20\end{array}\end{array}$$
-What FC exchange difference, if any, will be included in Zeppelin's profit or loss statement for the year ended 31 December 20X4 and at what amount will the FC account payable be recognised in the balance sheet?

• A)FC account payable = 1,080,000; $40,000 FC exchange difference revenue
• B)FC account payable = 1,080,000; $80,000 FC exchange difference revenue
• C)FC account payable = 1,080,000; $40,000 FC exchange difference expense
• D)FC account payable = 1,080,000; $80,000 FC exchange difference expense

Analyze the issues related to industrialization and urbanization, including labor rights and immigration.

Distinguish between various political and social ideologies and their influence on American society during the Progressive era.

Recognize the importance of social and political reforms in shaping modern American society.

Understand the role of government intervention in economic and social affairs during the Progressive era.

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Definitions:

Hypocrisy Attribution Dynamic

A psychological pattern where individuals judge others as hypocritical without recognizing similar behaviors within themselves.

Factitious Disorder

A mental disorder in which a person acts as if they have a physical or mental illness when they are not really sick.

Dementia

A category of brain diseases that cause a long term and often gradual decrease in the ability to think and remember, affecting daily functioning.

Psychosis

A mental disorder characterized by a disconnection from reality, which might include delusions and hallucinations.