Wolfe Computer is a U.S. company that manufactures portable personal computers. Many of the components for the computer are purchased abroad, and the finished product is sold in foreign countries as well as in the United States. Among the recent transactions of Wolfe are the following: Oct. 28 Purchased from Mitsutonka, a Japanese coepany, 20, 00e disk drives. The purchase price was 188,008,000, payable in 3e days. Current exchange rate, 50.0105 per yen. (Wolfe uses the perpetual inventory method; debit the Inventory of Raw Materials account.) Nov. 9 sold 700 personal computers to the Bank of England for 6636,364 due in 3e days. The cost of the computers, to-be debited to the Cost of Goods Sold account, was $518,0e0. Current exchange rate, $1.65 per British pound. (Use one compound journal entry to record the sale and the cost of goods sold. In recording the cost of goods sold, credit Inventory of Finished Goods.) Nov, 27 Issued a check to Inland Bank for $1,836, , 90 in full payment of account payable to Mitsutonka. Dec. 2 Purchased 10 , e0e gray-scale monitors from German optical for 61,17e, eed, payable in 60 days. Current exchange rate, $0,7030 per euro. (Debit Inventory of Raw Materials,) Dec. 9 Collected dollar-equivalent of 636,364 from the Bank of England. Current exchange rate, $1.63 per British pound. Dec.11 Sold 10 , eee personal computers to Computique, a Swiss retail chain, for SFr25, Bee, eee, due in 30 days. Current exchange rate, $0.6000 per swiss franc. The cost of the computers, to be debited to cost of Goods sold and credited to Inventory of Finished Goods, is 57,460,6e0. Required: a. Prepare in general journal form the entries necessary to record the preceding transactions. b. Prepare the adjusting entries needed at December 31 for the 1,170,000 account payable to German Optical and the SFr25,000,000 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per Swiss franc. (Use a separate journal entry to adjust each account balance.) c. Compute the unit sales price of computers in U.S. dollars in elther the November 9 or December 11 sales transactidn. (The sales price is the same in each transaction.) d. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27. Complete this question by entering your answers in the tabs below. Returm Prepare the adjusting entries needed at December 31 for the C1,170,000 account payable to German Optical and the SFr25,000,000 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per 5 wiss franc. (Use a separate journal entry to adjust each account balance.) (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.) Complete this question by entering your answers in the tabs below. Compute the unit sales price of computers in U.S. dollars in either the November 9 or December 11 sales transaction. (The sales price is the same in each transaction.) (Round your answer to the nearest dollar amount.) Complete this question by entering your answers in the tabs below. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27 . (Round your answer to 4 decimal places.) Wolfe Computer is a U.S. company that manufactures portable personal computers. Many of the components for the computer are purchased abroad, and the finished product is sold in foreign countries as well as in the United States. Among the recent transactions of Wolfe are the following: Oct. 28 Purchased from Mitsutonka, a Japanese coepany, 20, 00e disk drives. The purchase price was 188,008,000, payable in 3e days. Current exchange rate, 50.0105 per yen. (Wolfe uses the perpetual inventory method; debit the Inventory of Raw Materials account.) Nov. 9 sold 700 personal computers to the Bank of England for 6636,364 due in 3e days. The cost of the computers, to-be debited to the Cost of Goods Sold account, was $518,0e0. Current exchange rate, $1.65 per British pound. (Use one compound journal entry to record the sale and the cost of goods sold. In recording the cost of goods sold, credit Inventory of Finished Goods.) Nov, 27 Issued a check to Inland Bank for $1,836, , 90 in full payment of account payable to Mitsutonka. Dec. 2 Purchased 10 , e0e gray-scale monitors from German optical for 61,17e, eed, payable in 60 days. Current exchange rate, $0,7030 per euro. (Debit Inventory of Raw Materials,) Dec. 9 Collected dollar-equivalent of 636,364 from the Bank of England. Current exchange rate, $1.63 per British pound. Dec.11 Sold 10 , eee personal computers to Computique, a Swiss retail chain, for SFr25, Bee, eee, due in 30 days. Current exchange rate, $0.6000 per swiss franc. The cost of the computers, to be debited to cost of Goods sold and credited to Inventory of Finished Goods, is 57,460,6e0. Required: a. Prepare in general journal form the entries necessary to record the preceding transactions. b. Prepare the adjusting entries needed at December 31 for the 1,170,000 account payable to German Optical and the SFr25,000,000 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per Swiss franc. (Use a separate journal entry to adjust each account balance.) c. Compute the unit sales price of computers in U.S. dollars in elther the November 9 or December 11 sales transactidn. (The sales price is the same in each transaction.) d. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27. Complete this question by entering your answers in the tabs below. Returm Prepare the adjusting entries needed at December 31 for the C1,170,000 account payable to German Optical and the SFr25,000,000 account receivable from Computique. Year-end exchange rates, $0.7000 per euro and $0.5980 per 5 wiss franc. (Use a separate journal entry to adjust each account balance.) (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.) Complete this question by entering your answers in the tabs below. Compute the unit sales price of computers in U.S. dollars in either the November 9 or December 11 sales transaction. (The sales price is the same in each transaction.) (Round your answer to the nearest dollar amount.) Complete this question by entering your answers in the tabs below. Compute the exchange rate for the yen, stated in U.S. dollars, on November 27 . (Round your answer to 4 decimal places.)
