Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. elands ltd, an australian company, sells goods on

Elands Ltd, an Australian company, sells goods on credit to Canterbury Pty Ltd, a British...

80.2K

Verified Solution

Question

Accounting

Elands Ltd, an Australian company, sells goods on credit to Canterbury Pty Ltd, a British company. The contract was signed on 15 February 2022 for 80,000. Canterbury Pty Ltd settled the contract on 29 March 2022

.The relevant exchange rates are as follows:

15 February 2022 A$1.00 = 0.5514

29 March 2022 A$1.00 = 0.5743

How much is the foreign exchange difference calculated on the 29 March 2022?

$5,785 loss

$5,785 gain

$1,832 loss

$1,832 gain

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

Biology
1.2K views

a. In what ways are living agnathan fish not representative of the anatomy and ecology of...

Biology
1.2K views

When taken up by a cell which of the following molecules binds to a repressor...

Physics
1.2K views

In the arrangement shown system consisting of a wedge and block A is slipping down...

Physics
1.2K views

85 The equivalent resistance of the circuit between points A and B is Ao Bo...

Basic Math
1.2K views

A function f(z) and interval [a, b] are given. Check if the Mean Value Theorem...

Algebra
1.2K views

1 1 4 X 3 5 10 2 3

Accounting
1.2K views

Accounts receivable 25,111 Marketable securities 1,870 Operating lease assets...

Accounting
1.2K views

Oslo Company prepared the following contribution format income statement based on a sales volume of...

Accounting
1.2K views

ine anuary 1, 202 following share transactions took place during the 2021 year: 1. On...

Accounting
1.2K views

Assume that an asset had a cost of $30,000 and has $25,000 of Accumulated Depreciation...

Accounting
1.2K views

Hello can I have help with this, thanks 91 For the variable Exam...

Finance
1.2K views

Peaceful Cruises wants to build a new cruise ship that has an initial investment of...