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Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the cou...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 24,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: $ 0.47 0.43 September 1, 2017 December 1, 2017 December 31, 2017 March 1, 2018 a....
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 34,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: September 1, 2017 December 1, 2017 December 31, 2017 March 1, 2018 $ 0.48 0.42 0.50...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 31,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: eptember 1, 2017 $ 0.48 December 1, 2017 0.42 December 31, 2017 0.50 March 1, 2018...
Spindler, Inc. (a U.S.-based company), imports surfboards from a supplier in Brazil and sells them in...
Spindler, Inc. (a U.S.-based company), imports surfboards from a supplier in Brazil and sells them in the United States. Purchases are denominated in terms of the Brazilian real (BRL). During 2020, Spindler acquires 210 surfboards at a price of BRL 1,600 per surfboard, for a total of BRL 336,000.00. Spindler will pay for the surfboards when it sells them. Relevant exchange rates are as follows: Date U.S. Dollar per Brazilian Real (BRL) September 1, 2020 $ 0.240 December 1, 2020...
27. Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions...
27. Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 May 1 August 1 September 1 Bought inventory costing 100,000 pesos on credit. Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 May 1 August 1 September 1 December 31 $0.10...
M Company has the following export and import transactions during 20X5: On March 1, M sold...
M Company has the following export and import transactions during 20X5: On March 1, M sold goods to a Canadian Company for C$30,000, receivable on May 31. The spot rates for the C$ were C$1 = $0.65 on March 1 and C$1 = $0.68 on May 31. On July 1, M signed a contract to purchase equipment from a Japanese Company for ¥500,000. The equipment was manufactured in Japan during August and was delivered to M on August 31 with...
Eximco Corporation (based in Champaign, Illinois) has a number of transactions with companies in the country of Mon...
Eximco Corporation (based in Champaign, Illinois) has a number of transactions with companies in the country of Mongagua, where the currency is the mong. On November 30, 2017, Eximco sold equipment at a price of 500,000 mongs to a Mongaguan customer tha will make payment on January 31, 2018. In addition, on November 30, 2017, Eximco purchased raw materials from a Mongaguan supplier at a price of 300,000 mongs; it will make payment on January 31, 2018. To hedge its...
Maple Company had the following export and import transactions during 20X5: On March 1, Maple sold...
Maple Company had the following export and import transactions during 20X5: On March 1, Maple sold goods to a Canadian company for C$49,000, receivable on May 30. The spot rates for Canadian dollars were C$1 = $0.65 on March 1 and C$1 = $0.68 on May 30. On July 1, Maple signed a contract to purchase equipment from a Japanese company for ¥440,000. The equipment was manufactured in Japan during August and was delivered to Maple on August 30 with...
Required information A subsidiary of Porter Inc., a U.S. company, was located in a foreign country....
Required information A subsidiary of Porter Inc., a U.S. company, was located in a foreign country. The functional currency of this subsidiary was the Stickle ($) which is the local currency where the subsidiary is located. The subsidiary acquired inventory on credit on November 1, 2017, for $120,000 that was sold on January 17, 2018 for $156,000. The subsidiary paid for the inventory on January 31, 2018. Currency exchange rates between the dollar and the Stickle were as follows: November...
Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017, with payment...
Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017, with payment of 31,000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017, Brandlin enters into a forward contract to purchase 31,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date Spot Rate Forward Rate (to March...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 24,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: $ 0.47 0.43 September 1, 2017 December 1, 2017 December 31, 2017 March 1, 2018 a....
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 34,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: September 1, 2017 December 1, 2017 December 31, 2017 March 1, 2018 $ 0.48 0.42 0.50...
27. Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 May 1 August 1 September 1 Bought inventory costing 100,000 pesos on credit. Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 May 1 August 1 September 1 December 31 $0.10...
Eximco Corporation (based in Champaign, Illinois) has a number of transactions with companies in the country of Mongagua, where the currency is the mong. On November 30, 2017, Eximco sold equipment at a price of 500,000 mongs to a Mongaguan customer tha will make payment on January 31, 2018. In addition, on November 30, 2017, Eximco purchased raw materials from a Mongaguan supplier at a price of 300,000 mongs; it will make payment on January 31, 2018. To hedge its...
Required information A subsidiary of Porter Inc., a U.S. company, was located in a foreign country. The functional currency of this subsidiary was the Stickle ($) which is the local currency where the subsidiary is located. The subsidiary acquired inventory on credit on November 1, 2017, for $120,000 that was sold on January 17, 2018 for $156,000. The subsidiary paid for the inventory on January 31, 2018. Currency exchange rates between the dollar and the Stickle were as follows: November...
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