Solution-At what amount should the account receivable be

At what amount should the account receivable be recorded

Reference no: EM133153705

Question - John Inc., a retail company located in the U.S. sold products on account for 440,000 rupees on November 30 to Global Inc., an Indian company. The amount will be paid in 60 days. On the date of sale, one dollar was equal to 50 rupees. On December 31, when John prepares its financial statements, the exchange rate is 45 rupees to $1.00. At what amount should the account receivable be recorded on November 30?

Reference no: EM133153705

Questions Cloud

Concepts of self-concept and self-esteem : Using the concepts of self-concept and self-esteem find one example from the film The Eye of the Storm that illustrates how the eye color experiment affected th

Make the stockholders equity section of the balance sheet : Make the stockholders equity section of the balance sheet at March 31 - Dec. 31 Determined that net income for the year was $357,000

Governmental and non-profit accounting : How is Governmental and Non-Profit accounting different from your previous accounting courses?

Develop the change management plan : Develop the Change Management Plan using Kotter's 8-Step model. Determine the desired outcome as a result of the proposed change.

At what amount should the account receivable be recorded : When John prepares its financial statements, the exchange rate is 45 rupees to $1.00. At what amount should the account receivable be recorded on November 30

What social networks might joshua be able to use in job hunt : Problem Solving Consider the following situation: Joshua was interested in becoming a professional photographer. He'd recently graduated college with a photogra

What are two broad categories of retirement plans : What are the two broad categories of retirement plans? How is the basis calculated in a like-kind exchange?

Compute the updated current ratio after each transaction : In its most recent annual report, Appalachian Beverages reported current assets of $51,300. Compute the updated current ratio after each transaction

Fluctuating exchange rates : A Canadian fast food restaurant chain, which has loyal customers and strong demand for its products, is thinking about expanding its operations to China.

User Account

All Pages

At what amount should the account receivable be recorded

Reference no: EM133153705

Reference no: EM133153705

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT