User Account

All Pages

What amount should Cot report as a foreign exchange gain

Assignment Help Accounting Basics
Reference no: EM133078375

Question - On September 1, 2020, Cot Inc. received an order for equipment from a Russian customer for 200,000 rubles when the U.S. dollar equivalent was $130,000. Cot shipped the equipment on October 1, 2020, and billed the customer for 200,000 rubles when the U.S. dollar equivalent was $140,000. Cot received the customer's remittance in full on November 16, 2020, and sold the 200,000 rubles for $160,000. In Cot's 2020 income statement, what amount should Cot report as a foreign exchange gain?

Reference no: EM133078375

Questions Cloud

Explain the foreign direct investment : Propose strategies that South Africa can adopt to attract foreign direct investment.
What is your annual payment : You wanted a new car so you borrowed $40,000 at 3.5% interest for five years. What is your annual payment if payments are due at the end of each year
Set up a decision tree for the company situation : Jaguar Private Limited Company is engaged in the production of power transformers. Currently, the management team of the company is trying to decide whether to
Explain the natural monopolies : "Natural Monopolies can be classified as Government Created Monopolies"- do you agree with this statement? Please justify. You may provide necessary examples.
What amount should Cot report as a foreign exchange gain : Cot received the customer's remittance in full on November 16, 2020, and sold the 200,000 rubles for $160,000. What amount should Cot report
Specify the population parameter to be tested : A real estate investor thinks the real estate market has bottomed out. One of the variables he examined to arrive at this conclusion was the proportion of house
INF 504 Data Mining And Machine Learning Assignment : INF 504 Data Mining And Machine Learning Assignment Help and Solution, Northern Arizona University - Assessment Writing Service
Prepare Swifty journal entries for the purchase : Prepare Swifty' journal entries for (a) the purchase of the investment, (b) the interest received, and (c) the fair value adjustment
What are the impacts of trade on the specific factors model : What are the impacts of trade on the specific factors model? Please give examples to illustrate your answer.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd