Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please kindly help me to answer these. thank you!

Please kindly help me to answer these. thank you! Q. 4) Buyco, located in Canada,...

90.2K

Verified Solution

Question

Accounting

Please kindly help me to answer these. thank you!

Q. 4) Buyco, located in Canada, purchased raw materials from Sellco located in USA fir $85,000 US on September 19, 2021 with payment date as December 19th 2021. Buyco prepares its financials on a monthly basis. The exchange rates as applicable were as below:

31-Aug USD 1 = 1.362 CAD 30-Sep USD 1 = 1.371 CAD 31-Oct USD 1 = 1.358 CAD 30-Nov USD 1 = 1.392 CAD

Please prepare all necessary journal entries to record the purchase, revaluation and payment on due date.

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

some of the hydrated salt spatter out the crucible because of a too rapid heating process....

Chemistry
Q

What is the correct order of the digestive system?Mouth, esophagus, stomach, small intestines, large intestines,...

Biology
Q

When bacteria in the soil fix nitrogen with hydrogen the process is called: *atmospheric fixationbiological...

Biology
Q

What determines the direction of diffusion Multiple Choice O type of solvent phase of matter...

Biology
Q

e escape velocity of a body projected from thesurface of earth is v If the...

Physics
Q

angle Your Turn Apply the tangent ratio to find unknown lengths 1 A ladder needs...

Geometry
Q

Find f x 10 f x In x 0 2 In x f x

Basic Math
Q

TESASK YOUR TEACHIWhat amortization payment (in $) would you need to make each month at...

Basic Math
Q

The height of a right cylindrical can of peas is greater than the diameter of...

Basic Math
Q

What are the Porters Five Factors for Payless Shoe Source?

Accounting
Q

please answer B part A part is already answered ...

Accounting
Q

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who...

Accounting