Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q13: during december of the current year 2020, x (

Q13: During December of the current year 2020, X (American), entered into the following transactions:...

50.1K

Verified Solution

Question

Accounting

Q13:

During December of the current year 2020, X (American), entered into the following transactions: 1 - On 10 December 2020, X sold 7 units of inventory to Y located in Colombia for 8,541,000 pesos. On this date 1 peso = $0.0027. 2 - On 31 December 2020, suppose that the exchange rate was 1 peso = $0.0026]. 3 - On 1 March 2021 the customer from Colombia paid the due amount when exchange rate is 1 peso = $0.0032. On 31 December 2020 the transaction loss is -----

a.

900

b.

854

c.

678

d.

510

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

Explain how kidney nephrons work to excrete nitrogenous wastes and yet retain water, be sure to...

Biology
Q

Calculate the pH at the equivalence point in titrating 0.071 M solutions of each of the...

Chemistry
Q

How does the exercise of state power in the seventeenth century compare with the exercise of...

Psychology
Q

In the United States voters who are neither Democrat nor Republican are called Independent It...

Statistics
Q

Eva invests 5400 in a new savings account which earns 5 2 annual interest compounded...

Calculus
Q

In Lily Company, materials are entered at the beginning of each process. Work...

Accounting
Q

Natalie is considering hiring two permanent employees who are paid on an hourly basis plus...

Accounting
Q

Calculate the earnings per share (average of 418,000 shares outstanding for the year) for 2020....

Accounting
Q

An investment account earns 6 % compounded monthly. An initial investment of $11000 (present value)...

Finance
Q

Colson Corp. had $700,000 net income in 2015. On January 1, 2015 there were 250,000...

Accounting
Q

a. Clearly explain the difference between horizontal, vertical, and conglomerate merger and acquisition activity and...

Finance
Q

During the year, Peggy went from Nashville to Ecuador on business . She spent four...

Accounting