1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
eimsori [14]
3 years ago
8

On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for €60,000 (Euros), with a paymen

t due in 60 days. If the exchange rate was $1.35 per euro on the date of sale and $1.14 per euro on the date of payment, Wyman Company should recognize a foreign exchange gain or loss in the amount of:
A. $50,000 gsin
B. 60.000 loss
C. 68.400 loss
D. $12.600
Business
1 answer:
rodikova [14]3 years ago
5 0

Answer:

Wyman company should recognize a foreign exchange loss in the amount of $12,600

Explanation:

On the date of sale: £1 = $1.35

So £60,000 = 60,000 × $1.35 = $81000

On the date of payment: £1 = $1.14

So £60,000 = 60,000 × $1.14 = $68, 400

The amount Wyman company received on the date of payment is $12,600 less than the amount it ought to have received on the date of sale.

So Wyman company should recognize a foreign exchange loss in the amount of $12,600

You might be interested in
Helping employees find the harmony between the demands of their personal and professional lives is called ________.
motikmotik

Helping employees find the harmony between the demands of their personal and professional lives is called<u> Work-Life Balance</u>.

Employees face a variety of obstacles in the workplace today. While certain professions permit a more flexible separation of work and personal life, many others require substantial sacrifices in the area of leisure and family.

The United States is ranked 30th among nations with the best work-life balance by Statista. This is primarily due to the fact that many Americans often put in extra time at work.

Employers are becoming more conscious of the rising demands of their workers about a healthy work-life balance as a result.

Businesses are now thinking about how to create a work-life balance and putting in place specific strategies to encourage this. Making workers more productive is a goal, but so is making them happier and more balanced.

To learn more about Work-life Balance here

brainly.com/question/6842800

#SPJ4

8 0
10 months ago
Determine whether each of the following accounting duties mainly involves financial accounting, managerial accounting, or tax ac
tekilochka [14]

Answer:

Explanation:

1. managerial

2, managerial

3. financial

4. financial

5. tax

6. financial

7. tax

8. tax

3 0
3 years ago
Suppose that you want to develop a product that can easily be configured in a wide variety of ways. What design approach would b
NNADVOKAT [17]

Answer:

Modular product design

Explanation:

Modular product design is a term used to describes a method or strategy of developing a product, by breaking the product's development into separate parts often referred to as modules, specifically according to their functions and operations such that these modules can be developed separately.

Hence, in this case, to develop a product that can easily be configured in a wide variety of ways. The design approach would be best be Modular product design

4 0
3 years ago
One disadvantage of the dbms is that it increases the risk of data security breaches.
Andrew [12]
I think this statement is false because instead DBMS actually decreases the security risk of data security breaches. DBMS is a system software for creating and managing data. It is the only way of accessing the data in a database and does not reveal much of the databases internal complexity to the application programs and users.
4 0
3 years ago
Read 2 more answers
Question 2 of 10
son4ous [18]

It should be noted that a benefit of contributing to a retirement account is A. The amount of income that's taxable is reduced.

<h3>What is the benefit of retirement account?</h3>

It should be noted that employee contribution can help in reducing taxable income.

Contributions and investment gains won't be taxed until they're distributed.

Therefore, the benefit of contributing to a retirement account is the amount of income that's taxable is reduced.

Learn more about retirement on:

brainly.com/question/25707827

6 0
2 years ago
Other questions:
  • Campbell’s Soup has divided the domestic market into more than 20 re- gions, each with its own sales managers that develop speci
    6·1 answer
  • Paolucci Corporation's relevant range of activity is 4,000 units to 8,000 units. When it produces and sells 6,000 units, its ave
    7·1 answer
  • Mr. Decker invested $20,000 in cash in his new business. How does the company record the investment?
    7·1 answer
  • Research reported in the harvard business review indicates that it is very difficult to build customer loyalty if a firm is sell
    6·1 answer
  • A 25-year old client with a low risk tolerance wishes to invest in bonds. The client has invested in equities before, but has no
    9·1 answer
  • Troy, a human resource manager, is investigating why the turnover in his company’s accounting department has spiked in the last
    8·1 answer
  • When a bank has excess reserves and the bank loans those excess reserves to other banks that need to borrow to meet their reserv
    8·1 answer
  • Wolsey Industries Inc. expects to maintain the same inventories at the end of 2016 as at the beginning of the year. The total of
    9·1 answer
  • a. Cash production costs are budgeted at $6 per unit produced. Of these production costs, 40% are paid in the month in which the
    14·1 answer
  • In which type of career would you expect to spend a great deal of time backing up computer files?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!