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  3. average for year 6 spruce paid us $100,000 in di

Average for Year 6 Spruce paid US $100,000 in dividends on September 30,2020....

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Accounting

Average for Year 6
Spruce paid US $100,000 in dividends on September 30,2020. The
inventories on hand at the end of Year 6 were purchased
exchange rate was US$1= CDN$1.195.
Required:
a. Compute Spruce's exchange gain or loss for Year 6 if their
functional currency is the same as Poplar's functional currency (i.e.,
the Canadian dollar).(10 marks)
b. Translate Spruce's Year 6 Income Statement if their functional
currency is the Poplar's (i.e., the Canadian dollar). Separately
show your clearly labelled calculations for cost of goods sold for
possible part marks. (8 marks)
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