85 The followinga tables show the value (in billions of dollars) of U.S. international trade in goods md services for the years 20o4-1の6. Exports Servies Imports Goads A doods Segvices 341.7 1477.1 292.2 2004 807.5 2005 894.6 388.4 IC81-8 315.7 2006 l013.1 422.6 1861.3 342.8 Let 'E be a 312 matrix vepresenting the export data, and let 'm'be a similar matrx for the import data. Find each of the fallowing matries land indicate what information each provides. a) E-M
Q: For Questions 13-15 ECQ Incorporated imported an article from South Korea. The invaice value of the…
A: Value added Tax in Philippines The applicable tax rate for Value added tax in Philippines is 12%…
Q: The Ringgit went from RM3.60 at end-2009 to RM3.10 at end-2010 against the US$. a) Which currency…
A: Exchange rate At the end of year 2009 $1 = RM 3.60 At the end of year 2010 $1 = RM 3.10
Q: Assume the U.S. official Net International Investment Position (NIIP) at the end of 2020 was minus…
A: Investment refers to an asset that is invested for building wealth and saving money from the…
Q: r the following $/£ exchange rates and quantities of pounds demanded by US buyers. $/£…
A: Arc elasticity is using the mid point formula.
Q: U.S. Company purchases from Japanese Company for 60 million yen when the exchange rate is $.009.…
A: Amount payable = Liability in Yen x exchange rate on purchase date = 60 million yen x 0.009 =…
Q: value factor for one month is .9901. ion and forward contract. The forward contr ne.
A: Foreign currency Transaction must be recorded at the rate prevailing on the date of such transaction
Q: Calculate the current exchange rate SGD/JPY, given these two quotes: USD/JPY 114.20/30 SGD/USD…
A: The question is to calculate exchange rate rate of two currencies by concept of cross currency…
Q: 17 - The export rate for which 30000 dollars of dry pulses were exported to the foreign German…
A: When goods are sold to customer on account, then Accounts Receivables is debited and Sales account…
Q: A Taiwanese company is to export electronic equipment into Europe, in particular Germany and Sweden,…
A: A cross rate is referred as a foreign currency exchange transaction between two currencies where…
Q: 17 - The export rate for which 30000 dollars of dry pulses were exported to the foreign German…
A: Return of goods by the customer is known as Sales Returns for the business. Customer can return…
Q: ABC company has made an export contract of 25.000 $ with the foreign German company X. The method of…
A: Export contract can be defined as the legal agreement between two companies for the exchange of…
Q: alculate the current exchange rate GBP/JPY, given these two quotes: USD/GBP 0.6879/89 USD/JPY…
A: The currency exchange rate is the rate at which the currency of one country can be exchange with the…
Q: Assuming that the foreign country is highly inflationary, at what amount should the foreign…
A: Given information is: Cost of goods sold = LCU 5,810,000 Beginning inventory = 541,000 Ending…
Q: 1) Assume the following exchange rates are indirect quotes, what are the equivalent direct quotes…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Consider the balance-of-payments accounting the table below. All values are in billions of dollars…
A: The export represents the capital inflow whereas, the import represents the capital outflow.
Q: Homestyle Brands imports materials from other coun‑ tries and exports finished products to…
A: The primary record that is to be maintained in the accounting books of an entity is known as journal…
Q: 21. Gross domestic product. The U.S. gross domestic prod- Luct, in billions of current dollars, may…
A: The gross domestic profit, in billions of current dollars, may be modeled by the function, P(x) =…
Q: You buy USD 10 million against Canadian dollars at 1.3785 and sell USD 10 million at 1.3779. What is…
A: Information Provided: Bought USD 10 Million at = 1.3785 Sold USD 10 Million at = 1.3779
Q: An US Company exported its goods to Oman at US$ 2,000,000 at an exchange rate of US$ 2.5/OMR. Due to…
A: At time of Import 1 OMR = US$ 2.50 Due to changes in Economic conditions, the exchange rate becomes…
Q: 25 - How are the positive exchange differences that occur when the collection of export prices is…
A: International trade is the exchange of goods and services outside the geographical boundaries of the…
Q: 25 Points) On November 1, 2013, King Co. sold inventory to a customer in foreign country. King…
A: Date Spot Rate Value Change Forward Rate Change 11/01/13 0.35 $33,600 12/01/13 0.32…
Q: Refer to the information provided in Table Table $Billions Durable goods 600 Nonresidential…
A: Exports means the goods sold to rest of the world and imports means the goods purchased from the…
Q: 15. Calculate the current exchange rate AUD/GBP, given these two quotes: AUD/USD 0.5640-50 GBP/USD…
A: AUD/USD 0.5640-50 GBP/USD 1.5850-60 USD/GBP 1/1.586 : 1/1.585 USD/GBP 0.6305-0.6309 AUD / GBP =…
Q: Questien The economy records the following transactions: Imports of goods and services: $1569…
A: Solution:
Q: ider the following hypothetical information on the national income account for Canada. Category…
A: We need to compute balance in Canada's Current account. Current account of a country represents…
Q: The prices of an iPad (8th generation) 32GB in some countries are assumed to be as follows: • 329.99…
A:
Q: Refer to the table at right. The current account balance is Exports of goods Net unilateral…
A: Given net unilateral transfers is negative balance - 15
Q: (3). Omani mark LLC exports dates to various countries in the brand name Omani Khajoor. Two main…
A: Typically, Terms of the payments are in the form of r/days, n/30 where, r= Percentage of discount…
Q: Calculate the current exchange rate AUD/GBP, given these two quotes: AUD/USD 0.7158/68 GBP/USD…
A: Exchange rate decides worth of one currency in terms of another currency. Macroeconomic events…
Q: 23 - Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of…
A: $ 14000 1$ = 6.95
Q: Prepare the journal entries made by Pinnacle, a U.S. company, to record the above purchase and…
A:
Q: SCENARIO 1 Raw Material Purchase Transactions in Foreign Currencies On November 15, 2015, PT Perkasa…
A:
Q: 35. Which importation in 2011 is subject to VAT? a. Importation of fuels by a person engaged in…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 22 - The export rate for which 30000 dollars of dry pulses were exported to the foreign German…
A: Export of goods means when goods are sold to some other country. Then Receivables account is debited…
Q: A U.S. company’s foreign subsidiary had these amounts in local currency units (LCU) in 2017: Cost of…
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: Grace Co. had a Chinese yuan payable resulting from imports from China and a Mexican peso receivable…
A: Foreign currency receivable will be increased in the dollar value when there is a Gain and decreases…
Q: - How much is the vat paid on importation?
A: VAT is the amount of tax which is levied on the goods and it is a form of tax which falls within the…
Step by step
Solved in 2 steps
- A U.S. company's foreign subsidiary had these amounts in local currency units (LCU) in 2024: Cost of goods sold Beginning inventory Ending inventory LCU 5,230,000 536,000 622,000 The average exchange rate during 2024 was $1.30 = LCU 1. The beginning inventory was acquired when the exchange rate was $1.10 = LCU 1. Ending inventory was acquired when the exchange rate was $1.40 LCU 1. The exchange rate on December 31, 2024, was $1.45 = LCU 1. Required: Assuming that the foreign country is highly inflationary, determine the amount at which the foreign subsidiary's cost of goods sold should be reflected in the U.S. dollar income statement. Cost of goods soldA U.S. company's foreign subsidiary had these amounts in local currency units (LCU) in 2024: Cost of goods sold Beginning inventory Ending inventory LCU 5,710,000 542,000 623,000 The average exchange rate during 2024 was $1.20=LCU 1. The beginning inventory was acquired when the exchange rate was $1.00=LCU 1. Ending inventory was acquired when the exchange rate was $1.30 = LCU 1. The exchange rate on December 31, 2024, was $1.35=LCU 1. Required: Assuming that the foreign country is highly inflationary, determine the amount at which the foreign subsidiary's cost of goods sold should be reflected in the U.S. dollar income statement. Cost of goods soldA U.S. company’s foreign subsidiary had these amounts in local currency units (LCU) in 2020: Cost of goods sold LCU 5,590,000 Beginning inventory 548,000 Ending inventory 609,000 The average exchange rate during 2020 was $1.30 = LCU 1. The beginning inventory was acquired when the exchange rate was $1.10 = LCU 1. Ending inventory was acquired when the exchange rate was $1.40 = LCU 1. The exchange rate at December 31, 2020, was $1.45 = LCU 1. Assuming that the foreign country is highly inflationary, at what amount should the foreign subsidiary’s cost of goods sold be reflected in the U.S. dollar income statement?
- A company has an account payable to a U.S. company, a supplier of inventory, in the amount of US$250,000. The payable was incurred when the exchange rate was US$1 = Cdn$0.82. At year-end, the rate is $0.79. Required: 1. What amount of inventory is recorded? Amount of inventory 2. What amount of exchange gain or loss will the company report for the year? Amount of exchange gain or los1. Based on the following information, answer the problems showing procedure for each problem. CURRENCY SPOT & FORWARD RATES TABLE_1 U.S./Can. $1 U.S. $1 Cdn Cdn.$ U.S. $ in in Country per unit per unit Cdn.$= U.S.$= 1.5833 0.6316 SPOT 1 month forward 1.5847 2 months forward 1.5861 3months forward 1.5879 6months forward 1.5932 12months forward 1.6041 3years forward 1.6328 5years forward 1.6538| 7years forward 1.6738 10years forward 1.7133 Britain 1 m forward 2 m forward 3 m forward 6 m forward 12 m forward Europe 1 m forward 3 m forward 6 m forward 12 m forward Japan (pound) 2.4582 2.4559 2.454 2.4525 2.4474 2.4392 1.5504 1.5497 1.549 1.5489 1.5506 (Yen) 0.013034 0.008232 1 m forward 0.013066 0.008245 1.5526 1.5498 1.5472 1.5445 1.5362 1.5206 0.9792 0.9779 0.9755 0.9722 0.9666 0.631 0.6305 0.6298 0.6277 0.6234 0.6124 0.6047 0.5974 0.5837 (euro) Cdn.$ in 2001: High 1.5028 Low 1.6183 Average 1.5701 0.6654 0.6179 0.6369 3 m forward 0.013131 0.00827 6 m forward 0.013231 0.008305 12 m…Use the information below to answer the following questions. U.S. $ EQUIVALENT CURRENCY PER U.S. $ Polish Zloty .2978 3.3576 Euro 1.2198 .8198 Mexican Peso .0752 13.2988 Swiss Franc 1.0173 .9830 Chilean Peso .002071 482.80 New Zealand Dollar .8087 1.2366 Singapore Dollar .8010 1.2484 a. If you have $180, how many Polish zloty can you get? (Do not include the Polish zloty sign (Z). Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much is one euro worth in U.S. dollars? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) c. If you have 5.80 million euros, how many dollars do you have? (Do not round intermediate calculations and round your answer to…
- Consider the following information: Imports $220.5 Net income from foreign investments 53.4 Foreign investments in U.S. 6.4 Government spending abroad 5.6 Exports 170.7 U.S. investments abroad 24.5 Foreign securities bought by U.S. 5.0 U.S. securities bought by foreigners 2.9 Purchase of short-term foreign securities 7.0 Foreign purchases of U.S. short-term securities 9.6 Determine the balance on the U.S. current account and capital accounts. Use a minus sign to enter the amount as a negative value. Round your answers to one decimal place. Balance on current account: $ Balance on capital account: $1 . PL Co purchased goods on credit from a US supplier costing $US 225,000 on 5th June 2020 when the exchange rate was A$1 = US0.69 . On 30 June 2020, balance date , the exchange rate was A$1 = US0.72 . PL Co paid the US supplier on 7th July 2020 when the exchange rate was A$1 = 0.74. Required : Prepare the journal entries for the aboveUse the following chart to answer the next two questions. 2/17 2/18 2/19 £.8/S $1.30/£ £9/S ¥125/S ¥122/S S.007/N €1.1/S €/S.85 $.95/E What is the percentage appreciation/depreciation of the Euro from the US point of view from 2/17 to 2/18? Round intermediate steps and your final answer to four decimals. Express your answer in decimal format (ex. XXXX)
- Use the information below to answer the following questions. U.S. $ EQUIVALENT CURRENCY PER U.S. $ Polish Zloty .2981 3.3546 Euro 1.2243 .8168 Mexican Peso .0752 13.2985 Swiss Franc 1.0204 .9800 Chilean Peso .002071 482.80 New Zealand Dollar .8089 1.2363 Singapore Dollar .8012 1.2481 a. b. c. d. Which is worth more, a New Zealand dollar or a Singapore dollar? e. Which is worth more, a Mexican peso or a Chilean peso? f-1. How many Swiss francs can you get for a euro? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) f-2. What do you call this rate?Q8: What amount will Music, Inc. report as 2021 Cost of Goods Sold on its year ending 2021 Income Statement?A U.S. company's foreign subsidiary had the following amounts in stickles (5), the functional currency, in 2018: Cost of goods sold $12,000, e00 Ending inventory Beginning inventory 600,000 240,000 The average exchange rate during 2018 was 81 = $.96. The beginning inventory was acquired when the exchange rate was §1 = $1.20. The ending inventory was acquired when the exchange rate was §1 = $.90. The exchange rate at December 31, 2018 was §1= $.84. Assuming that the foreign nation for the subsidiary had a highly inflationary economy, at what amount should that foreign subsidiary's purchases have been reflected in the 2018 U.S. dollar income statement? Multiple Cholce $11,865,600. $11.577,600. $11.520.000. $11,613,600. $11,523,600.