How much should it report as foreign exchange loss

Assignment Help Financial Accounting

Reference no: EM13145237

Post Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2011, Post correctly included this receivable for 200,000 local currency units (LCU) in its balance sheet at $110,000. When Post collected the receivable on February 15, 2012, the U.S. dollar equivalent was $95,000. In Post's 2012 consolidated income statement, how much should it report as a foreign exchange loss?

Reference no: EM13145237

Questions Cloud

Find z-score boundaries that separate normal distribution : Find the z-score boundaries that separate a normal distribution as described in each of the following: the middle 20% from the 80% n the tails.

How many l. of n2 gas are produced : How many L. of N2 gas are produced at STP when the airbag inflates if the airbag contains 132 g. of Sodium Nitride?

Define what is the percent by mass of oxygen in a gaseous : What is the percent by mass of oxygen in a gaseous mixture whose molar composition is 0.500% CO2 and 99.500% air? The composition of air is 21% mole O2

What is the structure of a typical animal cell : what is the structure of a typical animal cell and explain the plasma membrane.

How much should it report as foreign exchange loss : When Post collected the receivable on February 15, 2012, the U.S. dollar equivalent was $95,000. In Post's 2012 consolidated income statement, how much should it report as a foreign exchange loss?

What is the solution''s concentration : When 5.6 grams of NaCl are dissolved in enough water to create a 125-gram solution, what is the solution's concentration, expressed as a percent by mass?

What actual score should be used as cut-off score : A school only accepts students with the top 20% of sat scores. The sat has a mean of 500 and a standard deviation of 100. what actual score should be used as the cut-off score?

How many lipid molecules there for every protein molecule : in the membrane of a human red blood cell, the ratio of the mass of proteins (average molecular weight: 50,000) to phospholipid (average molecular weight:800) to cholesterol (molecular weight: 382) is about 2:1:1. how many lipid molecules (phospho..

Discuss how your understanding of balance sheet : Discuss how your understanding of the balance sheet and income statement may applied to your current or future position. paper must be APA format and double space.statement must come in first before the numbers.

User Account

All Pages