A company has an account receivable from a U S customer, for US$100,000 The receivable arose when the exchange rate was US$1 Cdn$1 08 At year end, the rate is US$I S1 01 What amount of total exchange gain or loss will the company report for the year ...

Accounts receivable is shortrange amounts owing from purchasers t ...

A company has an account receivable from a U.S. customer, for US$100,000. The receivable arose when the

Question:

A company has an account receivable from a U.S. customer, for US$100,000. The receivable arose when the was US$1 = Cdn$1.08. At year-end, the rate is US$I = S1.01. What amount of total exchange gain or loss will the company report for the year?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...