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please find the answer (Question 4) (a) Gitra Berhad, a Malaysian company, manufactures frozen food for Asian market Gitra Berhad has subsidiaries at Singapore, Indonesia,
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(Question 4) (a) Gitra Berhad, a Malaysian company, manufactures frozen food for Asian market Gitra Berhad has subsidiaries at Singapore, Indonesia, Philippine and Vietnam. Each subsidiary has monthly unsettled balances due to or from other subsidiary. The following are the unsettled intracompany debts at the end of January: MNC Malaysia Owes MYR 15,000 to Indonesian subsidiary Owes MYR 20,000 to Indonesian subsidiary Owes MYR 5,000 to Indonesian subsidiary Owes MYR 18,000 to Indonesian subsidiary MNC Owes IDR 37 million to Malaysia Parent Owes IDR 45, million to Philippine subsidiary Owes IDR 25, million to Vietnam subsidiary Owes IDR 18, million to Singapore subsidiary Indonesia Exchange rate: IDR2,500/MYR MNC Philippine Owes PHP 320,000 to Malaysia Parent Owes PHP 180,000 to Indonesia subsidiary Owes PHP 90,000 to Vietnam subsidiary Owes PHP 18,000 to Singapore subsidiary Exchange rate: PHP10/MYR MNC Vietnam Owes VND 100 million to Malaysia parent Owes VND 50 million to Indonesia subsidiary Owes VND 45 million to Philippine subsidiary Owes VND 55 million to Singapore subsidiary Exchange rate: VND5000/MYR MNC Singapore Owes SGD 8,500 to Malaysia parent Owes SGD 2,720 to Indonesia subsidiary Owes SGD 5,440 to Philippine subsidiary Owes SGD 6,800 to Vietnam subsidiary Exchange rate: SGDO.3400/MYR Convert all the cash flows into MYR (Malaysia Ringgit) and show the calculation using table cells before and after netting. (12 marks) (Question 4) (a) Gitra Berhad, a Malaysian company, manufactures frozen food for Asian market Gitra Berhad has subsidiaries at Singapore, Indonesia, Philippine and Vietnam. Each subsidiary has monthly unsettled balances due to or from other subsidiary. The following are the unsettled intracompany debts at the end of January: MNC Malaysia Owes MYR 15,000 to Indonesian subsidiary Owes MYR 20,000 to Indonesian subsidiary Owes MYR 5,000 to Indonesian subsidiary Owes MYR 18,000 to Indonesian subsidiary MNC Owes IDR 37 million to Malaysia Parent Owes IDR 45, million to Philippine subsidiary Owes IDR 25, million to Vietnam subsidiary Owes IDR 18, million to Singapore subsidiary Indonesia Exchange rate: IDR2,500/MYR MNC Philippine Owes PHP 320,000 to Malaysia Parent Owes PHP 180,000 to Indonesia subsidiary Owes PHP 90,000 to Vietnam subsidiary Owes PHP 18,000 to Singapore subsidiary Exchange rate: PHP10/MYR MNC Vietnam Owes VND 100 million to Malaysia parent Owes VND 50 million to Indonesia subsidiary Owes VND 45 million to Philippine subsidiary Owes VND 55 million to Singapore subsidiary Exchange rate: VND5000/MYR MNC Singapore Owes SGD 8,500 to Malaysia parent Owes SGD 2,720 to Indonesia subsidiary Owes SGD 5,440 to Philippine subsidiary Owes SGD 6,800 to Vietnam subsidiary Exchange rate: SGDO.3400/MYR Convert all the cash flows into MYR (Malaysia Ringgit) and show the calculation using table cells before and after netting. (12 marks)Step by Step Solution
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