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What is us dollar equivalent for total of account receivable

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Question - Pencil Corp uses the US dollar as its functional currency. The receivable is not hedged. At December 31, 2020 Pencil has the following foreign currency balances:

Accounts Receivable (due in 3 months) FC 30,000

Inventory (at cost) FC 20,000

Fixed Assets FC 10,000

The following exchange rates were in effect:

December 31 spot rate: 1FC= .6 US

December 31 three month forward rate: 1FC= .5 US

Historic rate: 1FC= .7 US

Average exchange rate (2020): 1FC= .8 US

What is the US dollar equivalent for the total of Accounts Receivable, Inventory and Fixed Assets that will be reported by Pencil on its December 31, 2020 balance sheet.

Reference no: EM133094633

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