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Que.33. Teal, Inc., a foreign corporation, pays...

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Que.33. Teal, Inc., a foreign corporation, pays a dividend to its shareholders on November 30. Red, Inc., a U.S. CORPORATION AND 7% SHAREHOLDER in Teal, receives a dividend of 10000K (A FREIGN CURRENCY). Pertinent exchange rates are as follows. November 30 .9K: $1 Average for year .7K: $1 December 31 2K: $1 What is the dollar amount of the dividend received by Red, Inc.? Does Red, Inc., have a foreign exchange gain or loss on receipt of the dividend?

 

Paper#2952 | Written in 18-Jul-2015

Price : $25
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