Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 2. on january 31, 2017 fred has a 40,000...

2. On January 31, 2017 Fred has a 40,000...

70.2K

Verified Solution

Question

Accounting

image
2. On January 31, 2017 Fred has a 40,000 foreign currency denominated Accounts Payable due in 1 month. The following exchange rates were in effect. 5 US 1 FC 4 US= l FC January 31, 2017 spot rate January 31, 2017: one month forward rate 2.5 US IFC February 28, 2017 spot rate February 28, 2017 one month forward rate 3 US 1FC How much is the FX gain or loss on February 28, 2017. Your answer should state an amount followed by words "FX Gain" or "FX Loss" 2. On January 31, 2017 Fred has a 40,000 foreign currency denominated Accounts Payable due in 1 month. The following exchange rates were in effect. 5 US 1 FC 4 US= l FC January 31, 2017 spot rate January 31, 2017: one month forward rate 2.5 US IFC February 28, 2017 spot rate February 28, 2017 one month forward rate 3 US 1FC How much is the FX gain or loss on February 28, 2017. Your answer should state an amount followed by words "FX Gain" or "FX Loss

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Electrical Engineering
1.2K views

You produce cryogenice fridges in your factory. You must design a control system for the fridge,...

Physics
1.2K views

A simple harmonic oscillator consists of a block of mass 3.4 kg attached to a spring...

Electrical Engineering
1.2K views

A 650-nm continuous-wave laser beam strikes a photodetector. The photon arrival rate is 4x10^16 photons per...

Physics
1.2K views

4 bottom of beaker containing water water 3 36cm from pole of lens and mirror...

Physics
1.2K views

540 calories of heat convert 1 cubic centimeter of water at 100 C into 1671...

Basic Math
1.2K views

A total of 380 tickets were sold for the school play. They were either adult...

Statistics
1.2K views

oh shows the per capita personal incomes for six states in 2003 Use this bar...

Calculus
1.2K views

23 a lim x 4 x 5 x 4 b lim x 4 x 5...

Accounting
1.2K views

. Discuss the implications of underuse, overuse, and misuse for both quality and cost.

Accounting
1.2K views

Requirement 1: Type your name and the financial statement in the title to obtain credit,...

Accounting
1.2K views

If a company multiplies its actual overhead rate by the actual activity level of its...

Accounting
1.2K views

Combined cash budgets Veerans Manufacturing is preparing its cash budgets for the first two months...