Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. warren co., located in canada, purchased raw mater

Warren Co., located in Canada, purchased raw materials from a supplier in US for $85,000...

60.1K

Verified Solution

Question

Accounting

Warren Co., located in Canada, purchased raw materials from a supplier in US for $85,000 US on June 16, 2022 on credit with payment date as October 16, 2022. Warren Co. prepares its financials on a monthly basis. The purchase invoice was paid on due date

The FX rates recorded were as follows:

16-Jun USD 1 = 1.245 CDN

30-Jun USD 1 = 1.221 CDN

31-Jul USD 1 = 1.261 CDN

31-Aug USD 1 = 1.258 CDN 30-

Sep USD 1 = 1.299 CDN 16

Oct. USD 1 = 1.287 CDN

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

Discuss how bacteriophages cause mutations (in a long paragraph essay )

Biology
Q

You are part of a searchand- rescue mission that has been called out to look for...

Physics
Q

Describe the differences in valve timing on a naturally aspirated diesel engine, a turbocharged diesel engine,...

Mechanical Engineering
Q

Comets travel around the sun in elliptical orbits with large eccentricities. If a comet has speed...

Physics
Q

function[prob,flop]=Matlab(a,b) a=[1,2,3]; b=[7,8,9]; if (length(a)~=length(b)) disp("it doesn't make sense"); end prob=0; flop=0; for i=1:length(a) prob=prob+a(i)*b(i); flop=flop+2; end disp(prob); disp(flop); What is wrong with my code? it only run the...

Advance Math
Q

5 Proof by smallest counterexample Prove the following using smallest counterexample 6 n n21 for...

Geometry
Q

15. What type of edge on a 2-D figure will form a flat surface when...

Basic Math
Q

Use DeMoivre's Theorem to calculate the following expression. Express your answer in the form found...

Basic Math
Q

clear There are two sections - A and B Section A: total 3...

Accounting
Q

At the opening, BananaCATs had no initial inventory to produce banana cakes. The following data...

Accounting
Q

Bruce also requires a calculation of taxable income for the most recent year ended December...

Accounting
Q

A business provides its employees with varying amounts of vacation per year, depending on the...

Accounting