Value of $1
United States Dollar	-
Australian Dollar	1.298
Brazilian Real	5.080
British Pound	0.733
Canadian Dollar	1.271
Chinese Yuan	6.469
Danish Krone	7.078
Euro	0.815
Hong Kong Dollar	7.763
Indian Rupee	72.937
Japanese Yen	103.02
Mexican Peso	19.83
New Zealand Dollar	1.398
Singapore Dollar	1.418
South Korean Won	1,083.17
Swedish Krona	8.204
Swiss Franc	.881
Taiwan Dollar	30.79
Thai Baht	29.02
Russia Ruble	73.97
Indonesia Rupiah	13,758.19
Israel Shekel	3.206

1. On May 1, Apple receives on order from a Chinese Company for $720,000 to be paid on June 30. The exchange rates for $1 U.S. were as follows:

Spot rate, May 1	6.70 Chinese Yuan
Spot rate, June 30	6.92 Chinese Yuan

Required:

Determine the exchange gain or loss on the transaction.

2. On May 1, Nike exported running shoes to a French Company for 340,000 Euros to be paid on June 30. The exchange rates for $1 U.S. were as follows:

Spot rate, May 1	.88 Euros
Spot rate, June 30	.82 Euros

Required:

Determine the exchange gain or loss on the transaction.

3. On May 1, Nike imported materials from a South Korean company for $160,000 to be paid on June 30. The exchange rates for $1 U.S. were as follows:

Spot rate, May 1	1,140 Korean Wan
Spot rate, June 30	1,152 Korean Wan

Required:

Determine the exchange gain or loss on the transaction.