12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 X BANK DTH DOLAR XXX 120 02 INTERNATIONAL BUYER XXX 646 02 IR. CHANGE DIFFERENCE XXX Which transaction does the journal entry belong to? A) Collection record of the export in the current period B) Import fee transfer record C) Foreign income registration D) Recording of the return of the export price E) Registration of collection in the next period of the export

12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 X BANK DTH DOLAR XXX 120 02 INTERNATIONAL BUYER XXX 646 02 IR. CHANGE DIFFERENCE XXX Which transaction does the journal entry belong to? A) Collection record of the export in the current period B) Import fee transfer record C) Foreign income registration D) Recording of the return of the export price E) Registration of collection in the next period of the export

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

9th Edition

ISBN:9781305635937

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter17: Multinational Financial Management

Section: Chapter Questions

Problem 1DQ: DISCUSSION QUESTIONS Recreate Table 17.1 for the following currencies: Australian dollar, British...

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18 - What is the journal entry to be made if the policies sent by the exporter are accepted by the importer in the form of payment with acceptance credit?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 601 01 FOREIGN GOODS SALES XX B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 601 01 FOREIGN GOODS SALES XX C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 121 02 RECEIVABLES-FC XX D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 120 02 FOREIGN BUYER XXE) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 BANK X DTH XX 121 02 RECEIVABLES-FC XX
18 - In the form of payment with acceptance credit, which is the journal entry to be made if the policies sent by the exporter are accepted by the importer?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 601 01 FOREIGN GOODS SALES XX B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 601 01 FOREIGN GOODS SALES XX C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 121 02 RECEIVABLES-FC XX D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 120 02 FOREIGN BUYER XXE) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 BANK X DTH XX 121 02 RECEIVABLES-FC XX
23 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 100 01 TL CASE XXX 100 02 DOLLAR CASE XXX 646 01 EXCHANGE PROFIT XX Which transaction belongs to the accounting record made?A) Foreign currency has been sold with negative exchange rate difference.B) The bank received foreign currency from DTH.C) Year-end appraisal has been made to the FX in the vault.D) Foreign currency was bought with a positive exchange rate difference.E) Foreign currency has been sold with a positive exchange rate.
3 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 121 02 Foreign Currency Receivables XXX120 02 Foreign Buyer XXXWhich transaction belongs to the journal entry made above?A) Submission of the policy for collection B) Refund record of the policyC) Acceptance record of the policyD) Guarantee record of the policyE) Registration of collection from foreign buyer
23 - Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of $1 = 6.95. Which of the following calculations is correct in this situation? a) 646 Exchange Profits Hs. 97,300 TL (Creditor) B) 646 Exchange Profits Hs. 4.900 TL (Borrower) NS) 646 Exchange Profits Hs. 4.900 TL (Creditor) D) 656 Foreign Exchange Losses Hs. 4.900 TL (Creditor) TO) 656 Foreign Exchange Losses Hs. 4.900 TL (Borrower)
11 - In export transactions, the export price collected in advance from foreign buyers is recorded into which account (in foreign currency)?A) Receivable / To Account Advances GivenB) Bank Account / ReceivableC) Advances Received Account / ReceivableD) Advances Given Account / DebtE) Other Advances Received Account / Debt
13 - ABC company has made an export contract of 25.000 $ with the foreign German company X. The method of payment for exports is cash export. It has been reported that the export price has come to the company's account at the exchange rate of 4.60 TL. The amount in advance has been posted. Which is the registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 159 02 Advance Abroad 115,000 120 02 International Buyers 115,000B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 340 02 Advance Abroad Received 115,000 120 02 International Buyers 115,000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 Z Bank DTH 25.000 340 02 Advance Abroad Received 25.000D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 Z Bank DTH 115.000 340 02 Advance Abroad Received 115,000E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 340 02 Advance Abroad Received 115,000 102 02 Z Bank DTH 115.000
I. A. Prepare all entries on the Phil. firm’s books to record the above transactions B. Determine the following: Foreign exchange gain or loss on:i. December 1, 20x4ii. December 31, 20x4iii. March 1, 20x5 On December 31, 20x4:i. Accounts payableii. Inventory Part 2 REQUIRED: Translate (translation working paper) the financial statements of GoldCorporation into the presentation currency which is Philippine peso.
13 - ABC company has made an export contract of 25.000 $ with foreign German company X. The method of payment for exports is cash export. It has been reported that the export price has come to the company's account at a rate of 4.60 TL. The amount in advance has been posted. Which is the registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 159 02 Advance Abroad 115.000 120 02 International Buyers 115,000B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 340 02 Advance Abroad Received 115,000 120 02 International Buyers 115,000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 Z Bank DTH 25.000 340 02 Advance Abroad Received 25.000D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 Z Bank DTH 115.000 340 02 Advance Abroad Received 115,000E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 340 02 Advance Abroad Received 115,000 102 02 Z Bank DTH 115.000
Question Items EUR/USD USD/MYR USD/SGD Spot (28 October 2018) 1.1017/18 4.2200/699 1.3917/87 1 Month 473/492 74/119 106/138 2 Month 103/106 152/202 225/285 3 Month -187/+187 278/228 36/42 The following rates are quoted by banks as at 28 October 2018.Based on the above rates, calculate the following (assume no margins or charges areimposed and all exchange controls/regulations are complied with):a. Quoting bank sells USD/MYR at value spotb. Quoting bank buys SGD/MYR fixed three month delivery c. Exporter sells USD/MYR option spot to 3 month d. Importer buys EUR/SGD 1 month to 2 month delivery
Hello, please help with letter a. Thank you 1) ABC Corp has Accounts Receivable of FC 400,000 and Accounts Payable FC 300,000 on both March 31 and April 30, 2010. The applicable exchange rates at that date were as follows: March 30 April 30 Spot rate 1FC = .35 US 1FC = .37 US Forward rate(1 month). 1FC= .36 US. 1FC= .39 US a) What is the FX transaction gain or loss on Accounts REeceivable on April 30, 2010? b) What is the FX transaction gain or loss on Accounts Payable on April 30, 2010? c) If on March 31, ABC wishes to hedge its exposure to changing exchange rates what is the appropriate action it will take. Answer by saying whether ABC will enter a spot contract or forward contract and say whether the contract will involve purchasing FC and selling US dollars, or purchasing US dollards and selling FC and specify the appropriate exchange…
25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account)A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 300 BANK CREDITS 50000 B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 300 BANK CREDITS 125000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 320 SELLERS 50000 D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 321 BORROWINGS 125000 E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 125000 320 SELLERS 125000