Question
On December 20, 2015, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 135,000 ostras.
| On December 20, 2015, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 135,000 ostras. Payment is received on January 10, 2016. Currency exchange rates for 1 ostra are as follows: |
| December 20, 2015 | $ | 1.23 |
| December 31, 2015 | 1.20 | |
| January 10, 2016 | 1.16 | |
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| ||
| a. | A-How does the fluctuation in exchange rates affect Butantas 2015 income statement?
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Payroll Accounting 2020
Authors: Jeanette Landin
6th Edition
1260247961, 9781260247961
