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Question 4 3 Points TCL CO.is Kuwaith company, and the Kuwaiti Dinar is functional currency On 1 January 2020: TCL Co. purchases Equipment on credit
Question 4 3 Points TCL CO.is Kuwaith company, and the Kuwaiti Dinar is functional currency On 1 January 2020: TCL Co. purchases Equipment on credit from United Arab Emirates (UAE) comparto 100.000 UAE Dirham when the exchange rate was 1 Kuwaiti Dinar = 8 UAE Dirham The exchange rate on 31 December 2020, 1 Kuwaiti Dinar = 8,5 UAE Dirham What is the Gain or loss from retranslation of Account Payable on 31 December 20207 $750 Gain, $12,000 Gain $12,000 Loss D) $750 LOSS. 3 Points Question 5
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
978-0078025587
