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Post, Inc. had a rceivable from a foreign customer...

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Post, Inc. had a rceivable from a foreign customer that is a payble in the customer's local currency. ON 12/31/2011, Post correctly included this receivable for 200,000 local currency units (lcu) in its balance sheet at $111,000. When Post Collected the receivable on February 15, 2012, the U.S. dolalr equivalent was $95,000. In PoST'S 2010 Consolidated income statement, how much should it report as forrign income exhange loss? A.0 B.10,000 C.15,000 D.25,000 Please provide explanation,

 

Paper#12928 | Written in 18-Jul-2015

Price : $25
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