Upon arrival at the international airport in the country of Canteberry, Charles Alt exchanged $340 of U.S. currency into 850 florins, thelocal currency unit. Upon departure from Canteberry's international airport on completion of his business, he exchanged his remaining110 florins into $33 of U.S. currency.Required:a. Determine the currency exchange rates for each of the cells in the following matrix for Charles Alt's business trip to Canteberry.(Round your answers to 2 decimal places.)fl= florinsDirect exchange rateIndirect exchange rateflForeign currency transactionArrival DateflDeparture Datec. Did Charles experience a foreign currency transaction gain or a loss on the 110 florins he held during his visit to Canteberry andconverted to U.S. dollars at the departure date? (Round your intermediate computations and final answers to two decimal places)

Currency exchange: The exchange of one currency for another at a predetermined rate, or foreign…

Answered: Upon arrival at the international…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Godo
Al Kimyani Computer Hardware Company in Oman has made an order to receive RO 25000 worth of goods from Zakaria Exporters L.L.C. Dubai. A Bank Muscat has issued letter of credit to Zakaria Exporters L.L.C. on behalf of the bank customer Al Kimyani Computer Hardware Company. In this transaction Bank Muscat has: a. Providing a guarantee to exporter for confirmation of payment b. Providing a guarantee to middleman for confirmation of payment c. Providing a guarantee to importer for confirmation of payment d. Providing a guarantee to employees for confirmation of payment
ASSUME THAT THE U.S. DOLLAR IS THE FUNCTIONAL CURRENCY. Ruthie Inc. had a debit adjustment of $7900 for the year ended December 31, 2019, from restating its foreign subsidiary's accounts from their local currency units into U.S. dollars. Additionally, Ruthie had a receivable from a foreign customer. It is denominated in the customer's local currency. On December 31, 2018, this receivable for 300,000 local currency units (LCU) was correctly included in Ruthie's balance sheet at $124200. When the receivable was collected on February 15, 2019, the U.S. dollar-equivalent was $122200. In Ruthie's 2019 consolidated statement of income, how much should be reported as foreign exchange gain/(loss) in computing net income? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. IF THE NUMBER IS NEGATIVE, TYPE -1000 INSTEAD OF ($1,000) Your Answer:
XYZ is a German Company that has its foreign affiliation in Oman as Watiyyah Inc. The functional currency of Oman is OMR. The reporting currency for XYZ is EUR. The company shows the below accounts: Cash (OMR 15000), Capital (OMR 75000), Accounts Receivable (OMR 30000), Long Term Debt (OMR 10000), Accounts payable (OMR 25000), Land and Building (OMR 25000), Inventory (OMR 40000), Prepare the balance sheet of Watiyyah Inc. Translate the above balance sheet into EUR using the temporal method using the below exchange rates: The current exchange rate is OMR 0.4350/EUR The historical exchange rate is OMR 0.4060/EUR
For each of the following, identify in which part of the Egyptian balance-of-payments account it appears and whether it is a receipt or payment: (4 marks) A $50 million gift from Saudi Arabia An American's purchase of Oriental Weavers rugs. Bank Misr borrowing from a bank in Switzerland. A Swiss family decided to spend their vacation in Luxor & Aswan
On June 1, a calendar year U.S. manufacturer sells, on 60-day credit, goods to Oman importer for US$ 1,000,000. The Dollar/Rial exchange rate is OMR 1 = US$ 0.40 on June 1, and OMR 1 = $ 0.39 on August 1. Required: Prepare dated journal entries in Oman Rials to record the incurrence and settlement of this foreign currency transaction assuming It employs a two-transaction perspective.
X, a banker in London has been given the following exchange rates:SF in Zurich : 1.8900-1.8950 SF/1££ in New York : 1.4310-1.4350 $/1£Calculate to 4 decimal places the SF/$ cross rate which x should quote to his British customer
Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019. Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of thewhole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss…
Vikram
ABC Corp., a US corporation, purchased goods on credit from a British company on April 8, 2007. ABC made a payment of 10,000FC on May 8, 2007. The exchange rate was $1= FC .50 on April 8 and $1= FC .60 on May 8. What amount of foreign exchange gain or loss should be recognized on May 8 ?
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The U.S. Company purchased Laptop from a company domiciles in japan. The contract was denominated in 600,000 Japan Yen. The direct exchange spot rate on this date was $0.0844. Select one: a. None of the other points $650,000 $650,000 b. Purchases Cash c. Purchases $650,000 Account Payable $650,000 $50,640 O d. Purchases Account Payable $50,640

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