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    Exercise 12-6

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    jood aljuhanai
    1) On November 5th, the company recorded a $200,000 account receivable from a sale to SLS. On November 18th, they recorded a $192,000 account receivable from a sale to NTL. They also recorded $276,000 and $160,000 in account payables from purchases from AGT and SDS on November 6th and 20th respectively. 2) Part B calculates the transaction gain/loss from the exchange rate differences on the account receivables and payables. On November 6th there was a $18,000 transaction gain, and on November 18th a $3,120 transaction loss.

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    Exercise 12-6

    Uploaded by

    jood aljuhanai
    4 views1 page
    1) On November 5th, the company recorded a $200,000 account receivable from a sale to SLS. On November 18th, they recorded a $192,000 account receivable from a sale to NTL. They also recorded $276,000 and $160,000 in account payables from purchases from AGT and SDS on November 6th and 20th respectively. 2) Part B calculates the transaction gain/loss from the exchange rate differences on the account receivables and payables. On November 6th there was a $18,000 transaction gain, and on November 18th a $3,120 transaction loss.

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    1) On November 5th, the company recorded a $200,000 account receivable from a sale to SLS. On November 18th, they recorded a $192,000 account receivable from a sale to NTL. They also recorded $276,000 and $160,000 in account payables from purchases from AGT and SDS on November 6th and 20th respectively. 2) Part B calculates the transaction gain/loss from the exchange rate differences on the account receivables and payables. On November 6th there was a $18,000 transaction gain, and on November 18th a $3,120 transaction loss.

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    © All Rights Reserved
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    4 views1 page

    Exercise 12-6

    Uploaded by

    jood aljuhanai
    1) On November 5th, the company recorded a $200,000 account receivable from a sale to SLS. On November 18th, they recorded a $192,000 account receivable from a sale to NTL. They also recorded $276,000 and $160,000 in account payables from purchases from AGT and SDS on November 6th and 20th respectively. 2) Part B calculates the transaction gain/loss from the exchange rate differences on the account receivables and payables. On November 6th there was a $18,000 transaction gain, and on November 18th a $3,120 transaction loss.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    part 1

    6 Nov purchase merchandise from AGT


    276,000
    account payable 276,000
    (600,000×0.460)
    5 Nov Account Receivable
    200,000
    Sold merchandise to SLS
    2001000

    18 Nov Account Receivable 192,000


    Sold merchandise to NTL
    192,000
    (130,000×1,482)
    20 Nov
    purchase merchandise from SDS
    160,000
    Account payable 1601000

    Account Receivable : Account payable :

    5 Nov sale 200,000 6 Nov


    purchase 276,000

    18 Nov sale 192


    ,
    ooo 20 Nov purchase 160,000

    part B :

    Nov 6 → Goo ,
    ooo ✗ 0.490=294,000 Account payable 18
    ,
    ooo

    >

    294,000-276,000 =
    18,000 Transaction gain 18,000

    NOV 18 → 130,000 ✗ 1.506--195,780 Transaction loss 3,120


    >
    account
    195,780-192,660=(3/120) payable 3,120

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