National Co. is residing in Spain and exports bottles of wine in its Mexican Market for 225 Mexican Peso each bottle which costs National Co. 50 Pounds from wine distillery in United Kingdom. Exchange rates identified are the following for June 10, 2022: · 1 Euro = 15 Mexican Peso = 10 Pounds How much total gross profit in Euro does National Co. made for June 10, 2022 considering the firm exported 3,000 wine bottles?
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National Co. is residing in Spain and exports bottles of wine in its Mexican Market for 225 Mexican Peso each bottle which costs National Co. 50 Pounds from wine distillery in United Kingdom. Exchange rates identified are the following for June 10, 2022:
· 1 Euro = 15 Mexican Peso = 10 Pounds
How much total gross profit in Euro does National Co. made for June 10, 2022 considering the firm exported 3,000 wine bottles?
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- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2024: March 1 May 1 August 1 September 1 Bought inventory costing 100,000 pesos on credit. Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2024 are as follows: Date March 1 May 1 August 1 September 1 December 31 U.S. Dollar per Peso $ 0.10 0.12 0.13 0.14 0.15 Assume that all receipts were converted into dollars as soon as they were received. Required: For each of the following accounts, what amount will Voltac report on its 2024 financial statements? a. Inventory b. Cost of goods sold c. Sales d. Accounts receivable e. Accounts payable f. CashBIC Co. is residing in Spain and exports bottles of wine in its Mexican Market for 225 Mexican Peso each bottle which costs BIC Co. 50 Pounds from wine distillery in United Kingdom. Exchange rates identified are the following for June 10, 2022:· 1 Euro = 15 Mexican Peso = 10 PoundsHow much total gross profit in Euro doesBIC Co. made for June 10, 2022 considering the firm exported 3,000 wine bottles?A company produces jackets for €20 each in Portugal, which has a corporate tax rate of 21%. It then transfers its products to its Irish subsidiary for resale to the Irish public at a sales price of €30 per jacket. The corporate tax rate in Ireland is 12.5%. Calculate the total after-tax profit in the two countries if the company uses a transfer price of €23 and it sells 10,000 jackets. ANSWERS: €84,950 €15,050 €66,500 €8,495 €8,750
- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 110,000 pesos on credit. Sold 60 percent of the inventory for 90,000 pesos on credit. Collected 75,000 pesos from customers. Paid 65,000 pesos to suppliers. March 1 May 1 August 1 September 1 Currency exchange rates for 1 peso for 2020 are as follows: U.S. Dollar per Peso $ 0.19 Date March 1 May 1 0.20 August 1 September 1 0.21 0.22 0.23 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Inventory b Cost of goods sold Sales Accounts receivable e Accounts payable f CashA bottle of wine made in the European Union sells for €81. Suppose the exchange rate of U.S. dollars for euros changes from $1.00 = €0.85 to $1.00 = €0.63. What has happened to the cost of the bottle of wine in the U.S.? That is, what is the change in the cost of the bottle of wine for consumers in the U.S. in dollars? Provide your answer in dollars rounded to one decimal place. Use a negative sign "-" for negative values. Do not include any symbols, such as "$," "=," "%," or "." in your answer. Your Answer: AnswerKS Inc. produces a product in the United Kingdom at a cost of £0.55 per unit which it then sells in France for €1.25 per unit. If in the currency markets, 1 U.S. dollar = £0.6373 and 1 U.S. dollar = €1.0279, how much profit is realized by KS Inc. on each unit of product sold? * $0.7857 $0.3531 $0.2571 $0.1095 When the supply for money increases and the demand for money reduces, there will be * A fall in the level of prices An increase in the rate of interest A fall in the level of demand A decrease in the rate of interest
- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 119,000 pesos on credit. May 1 Sold 60 percent of the inventory for 99,000 pesos on credit. August 1 Collected 79,500 pesos from customers. September 1 Paid 69,500 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.17 May 1 0.18 August 1 0.19 September 1 0.20 December 31 0.21 Assume that all receipts were converted into dollars as soon as they were received. Voltac will report each of the following accounts on its 2020 financial statements. Inventory $8,092 Cost of goods sold $12,138 Sales $17,820 Accounts receivable $4,095 Accounts payable $10,395 Cash $1,205 What are the corresponding journal entries?Voltac Corporation (a US-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 May 1 August 1 September 1 Bought inventory costing 124,000 pesos on credit. Sold 80 percent of the inventory for 104,000 pesos on credit. Collected 82,000 pesos from customers. Peid 72,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 U.B. Dollar рег Реко $ 0.22 0.23 0.24 0.25 0.26 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Inventory b Cost of goods sold c Sales d Accounts receivable e Accounts payable CashVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 118,000 pesos on credit. May 1 Sold 80 percent of the inventory for 98,000 pesos on credit. August 1 Collected 79,000 pesos from customers. September 1 Paid 69,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.16 May 1 0.17 August 1 0.18 September 1 0.19 December 31 0.20 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 118,000 pesos on credit. May 1 Sold 80 percent of the inventory for 98,000 pesos on…
- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 100,000 pesos on credit. March 1 May 1 August 1 September 1 Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Inventory Cost of goods sold с Sales d Accounts receivable e Accounts payable Cash U.S. Dollar per Peso $ 0.10 0.12 0.13 0.14 0.15 a bVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 112,000 pesos on credit. May 1 Sold 80 percent of the inventory for 92,000 pesos on credit. August 1 Collected 76,000 pesos from customers. September 1 Paid 66,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.21 May 1 0.22 August 1 0.23 September 1 0.24 December 31 0.25 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a. Inventory b.Cost of goods sold c. SalesVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 116,000 pesos on credit. March 1 May 1 August 1 September 1 Sold 60 percent of the inventory for 96,000 pesos on credit. Collected 78,000 pesos from customers. Paid 68,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a b C d Inventory Cost of goods sold Sales Accounts receivable U.S. Dollar per Peso $ 0.25 0.26 0.27 0.28 0.29 e Accounts payable f Cash