1.

2.

ABC Inc. Company has accounts payable to a US company, a supplier of inventory, in the amount of US$174,000. The payable was incurred when the exchange rate was US$1= CDN$0.66. At year-end, the rate is $0.65. If this was the only transaction in the company what is the balance of the following accounts at Year-End? Foreign Exchange Loss/Gain = If it is a gain enter as a negative. ABC Inc. Company has accounts payable to a US company, a supplier of inventory, in the amount of US$167,000. The payable was incurred when the exchange rate was US$1 = CDN$0 67. At year-end, the rate is $0.66. If this was the only transaction in the company what is the balance of the following accounts at Year-End? Accounts Payable =