a. Prepare in general journal form the entries necessary to record the preceding transactions. b. Prepare the adjusting entries needed at December 31 for the €1,150,000 account payable to German Optical and the SFr25,833,333 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per Swiss franc. (Use a separate journal entry to adjust each account balance.) c. Compute the unit sales price of computers in U.S. dollars in either the November 9 or December 11 sales transaction. (The sales price is the same in each transaction.) d. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27.
a. Prepare in general journal form the entries necessary to record the preceding transactions. b. Prepare the adjusting entries needed at December 31 for the €1,150,000 account payable to German Optical and the SFr25,833,333 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per Swiss franc. (Use a separate journal entry to adjust each account balance.) c. Compute the unit sales price of computers in U.S. dollars in either the November 9 or December 11 sales transaction. (The sales price is the same in each transaction.) d. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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