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Kobotan [32]
3 years ago
5

On December 12, year 1, Imp Co. entered into three forward exchange contracts, each to purchase 100,000 euros in ninety days. Th

e relevant exchange rates are as follows: Spot rate Forward rate (for March 12, year 2) November 30, year 1 $.87 $.89 December 12, year 1 $.88 .90 December 31, year 1 $.92 .93 At December 31, year 1, what amount of foreign currency transaction loss should Imp include in income from the revaluation of the Accounts Payable of 100,000 euros incurred as a result of the purchase of inventory at November 30, year 1, payable in March year 2?
Business
1 answer:
timama [110]3 years ago
6 0

Answer:

40.000

Explanation:

I think your approach is not clear at all, but your question is.

So if you have bought merchandise worth 100,000 euros but your records are in other currencies, you must take the exchange rate at the time of the operation, this is $ 0.89. You will register

Inventorty 890.0000

accounts paylable     890,000

At the close of the fiscal year your liabilities must be valued at the official exchange rate, in this case it is $ 0.93

then your foreign currency debt increases, but not your inventory, the other account that is used is a negative result for this rate change

loss exchange rate    40,000

accounts paylable                     40.000

in the valuation of liabilities the seller exchange rate is used

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Answer:

d. Stressing that younger staff members have no problem e-mailing their reports.

Explanation:

Option A - If sales manager provides all the required hardware, software, and training, it can be the best effective way to change other staffs' motives.

Option B - If sales manager explains the importance of electronic submissions, it should be the best way of winning over those who are resist to change.

Option C - If sales manager praises other staff members, those who do not want to change will change their motive and send electronically.

Therefore, all the options A, B, and C are the best effective ways, so, D is the best option which is least likely way to change.

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kondaur [170]
I think c is the correct answer
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Answer:

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The correct answer to this open question is the following.

Unfortunately, it seems that something is missing here. "Progressivism, where will you put your million dollars answers?" is the section of the examination, but it is not a specif question.

So what is what you want to know?

However, trying to offer some help, we can comment on the following.

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