Mr. Maclus, your customer receives and makes payments in foreign currency. He has today given you...
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Mr. Maclus, your customer receives and makes payments in foreign currency. He has today given you his schedule of payments and you have, through SWIFT, received various transfers on his behalf as detailed below: US Dollar Euro JPY TZ SH Payments USD/EP USD/KD 7,200 8,000 Egyptian pound (EP) Uganda Shillings 2,500,000 Kuwait Dinar (KD) 960,000 Qatar Riyal (QR) Your bank's rate board today shows the following spot rates: USD/KSH 76.5890 76.7245 EURO/KSH 95.1682 95.9115 100JPY/KSH 74.3659 75.5115 7,0970 7.1520 0.2860 0.2910 Receipts rate/Amount/Commission/Net debit (credit) of the table and the dahil USD/QR 3.5380 3.7250 KSH/TZS 15.3815 15.7540 KSH/UGS 25.2190 26.1770 75,000 5,800,000 8,400 18,200 Required: Determine the net amount credited/debited to Mr. Maclus's account. Include exchange commission of % %, Maximum KSH 5,000/=. Give your answer in a five-column table, i.e. /Currency/Forex MOCY Mr. Maclus, your customer receives and makes payments in foreign currency. He has today given you his schedule of payments and you have, through SWIFT, received various transfers on his behalf as detailed below: US Dollar Euro JPY TZ SH Payments USD/EP USD/KD 7,200 8,000 Egyptian pound (EP) Uganda Shillings 2,500,000 Kuwait Dinar (KD) 960,000 Qatar Riyal (QR) Your bank's rate board today shows the following spot rates: USD/KSH 76.5890 76.7245 EURO/KSH 95.1682 95.9115 100JPY/KSH 74.3659 75.5115 7,0970 7.1520 0.2860 0.2910 Receipts rate/Amount/Commission/Net debit (credit) of the table and the dahil USD/QR 3.5380 3.7250 KSH/TZS 15.3815 15.7540 KSH/UGS 25.2190 26.1770 75,000 5,800,000 8,400 18,200 Required: Determine the net amount credited/debited to Mr. Maclus's account. Include exchange commission of % %, Maximum KSH 5,000/=. Give your answer in a five-column table, i.e. /Currency/Forex MOCY
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Answer rating: 100% (QA)
Calculations USD Equivalent KSH 7200 767245 5537376 Commission min5537376 0005 5000 2768688 less tha... View the full answer
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Posted Date:
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