On 1st June 2021, Nutella Ltd, an Australian company with a functional currency of A$, entered...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On 1st June 2021, Nutella Ltd, an Australian company with a functional currency of A$, entered business purchasing inventory from their suppliers in Samoa Tala $ when the exchange rate was A$1.00 = Samoan Tala $2.10. On 30th June 2021 the exchange rate is A$1.00 = Samoan Tala $2.30. The transaction was settled on 10th July 2021 when the exchange rate was A$1.00 = Samoan Tala $2.20 Required Translate the following for initial and Subsequent measurements and calculate the realised gain or loss om translation. 1. Inventories and accounts payable of Samoa Tala $ 100 000 On 1st June 2021, Nutella Ltd, an Australian company with a functional currency of A$, entered business purchasing inventory from their suppliers in Samoa Tala $ when the exchange rate was A$1.00 = Samoan Tala $2.10. On 30th June 2021 the exchange rate is A$1.00 = Samoan Tala $2.30. The transaction was settled on 10th July 2021 when the exchange rate was A$1.00 = Samoan Tala $2.20 Required Translate the following for initial and Subsequent measurements and calculate the realised gain or loss om translation. 1. Inventories and accounts payable of Samoa Tala $ 100 000
Expert Answer:
Answer rating: 100% (QA)
Inventories Initial Measurement The inventory amount in Samoan Tala is SAT100000 To translate it to ... View the full answer
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date:
Students also viewed these accounting questions
-
Sherwee Product Ltd is an Australian company with a functional currency of A$. The company entered into a number of transactions denominated in US$ during the year ended 30 June 2020. Given that the...
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
Joe received a cheque from Sam for work he had done painting Sam's house, and Joe passed that cheque to Harry. Harry took it, not knowing that the work done was defective. Because of the principle...
-
The degrees of operating leverage for Delta Corp. and Epsilon Co. are 1.95 and 5.15, respectively. Both have operating incomes of $56,600. Determine their respective contribution margins....
-
An ice which was initially under standard conditions was compressed up to the pressure p = 640 atm. Assuming the lowering of the ice melting temperature to be a linear function of pressure under the...
-
Calculate the 2nd moment of inertia for a beam with a length of 200 mm, a width of 20 mm and a height of 3 mm. For the same beam, and using the provided equations, calculate the maximum deflection if...
-
Compute the value of the chi-square statistic. Exercises 79 refer to the following data: At an assembly plant for light trucks, routine monitoring of the quality of welds yielded the following data....
-
Reliant Umbrellas has been approached by Plumpton Variety Stores of Nevada. Plumpton has expressed interest in an initial purchase of 5,000 umbrellas at $10 each on Reliant?s standard terms of 2/30,...
-
You are analysing a client's portfolio and advising them on their investment strategy. The following information is given on their portfolio: 60% is invested in A Plc and 40% is invested in B Plc....
-
One way to see whether this procedure will be successful is to split the original data set into two subsets: one subset for estimation and one subset for validation. A regression equation is...
-
A portfolio exists that contains equal weights of Five securities: A stock with a beta of 1.5, B stock with a beta of 2.0, C stock with a beta of -0.8, Dis a US Treasury Bond, and E is a security...
-
Define the IT organizational structure and how the IT organizational structure impacts culture and change management practices. Additionally, how does the organizational structure impact competitive...
-
The organizational level includes both the formal and the informal organization. The formal organization involves the ways authority is distributed across various organizational levels and how...
-
Define organizational effectiveness. Examine the various ways organizational effectiveness is important to the future of law enforcement, both internally and externally. Provide answer in details.
-
Explain strategies for creating positive, organizational change. How do these strategies stem from the leadership theory you most admire? Provide a scenario to illustrate the implementation of 1...
-
Evaluate the indefinite integral. (Use C for the constant of integration.) 9-x2 dx
-
To what extent is the duty under s181(1) of the Corporations Act support or constrains the consideration of environmental and social risks in company management? What are the strengths and weaknesses...
-
Dawson Companys balance sheet information at the end of 2019 and 2020 is as follows: Additional information: The company did not issue any common stock during 2020. Required : Next Level Fill in the...
-
The following data are available from the City of Boulders financial records on September 30, 2011: a. The net change in fund balancetotal governmental funds for the city is $1,408,950. b. The city...
-
Explain why the noncash investments of partners should be recorded at their fair values.
-
The City of Meringen operates a central garage through an internal service fund to provide garage space and repairs for all city-owned and -operated vehicles. The central garage fund was established...
-
A plot that represents how much of something there is may be misleading if the baseline is not at ______________________. In Exercises 3 and 4, fill in each blank with the appropriate word or phrase.
-
The population of country A is twice as large as the population of country B. True or false: If images are used to represent the populations, both the height and width of the image for country A...
-
If the baseline of a bar graph or time-series plot is not at zero, then the differences may appear to be __________________ than they actually are.
Study smarter with the SolutionInn App