Question
In: Accounting
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
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Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2015, Benjamin acquires 20,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: |
| September 1, 2015 | $ | 0.46 | |
| December 1, 2015 | 0.44 | ||
| December 31, 2015 | 0.48 | ||
| March 1, 2016 | 0.45 | ||
| a. |
Assume that Benjamin acquired the widgets on December 1, 2015, and made payment on March 1, 2016. What is the effect of the exchange rate fluctuations on reported income in 2015 and in 2016?
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Solutions
ekkarill92 answered 1 year agoRelated Solutions
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company
has considerable dealings with companies in the country of
Camerrand. The denomination of all transactions with these
companies is alaries (AL), the Camerrand currency. During 2017,
Benjamin acquires 39,000 widgets at a price of 8 alaries per
widget. It will pay for them when it sells them. Currency exchange
rates for 1 AL are as follows:
September 1, 2017
$
0.47
December 1, 2017
0.43
December 31, 2017
0.49
March 1, 2018...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company
has considerable dealings with companies in the country of
Camerrand. The denomination of all transactions with these
companies is alaries (AL), the Camerrand currency. During 2017,
Benjamin acquires 45,000 widgets at a price of 8 alaries per
widget. It will pay for them when it sells them. Currency exchange
rates for 1 AL are as follows:
September 1, 2017
$
0.48
December 1, 2017
0.42
December 31, 2017
0.50
March 1, 2018...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company
has considerable dealings with companies in the country of
Camerrand. The denomination of all transactions with these
companies is alaries (AL), the Camerrand currency. During 2017,
Benjamin acquires 20,000 widgets at a price of 8 alaries per
widget. It will pay for them when it sells them. Currency exchange
rates for 1 AL are as follows: September 1, 2017 $0.46 December 1,
2017 0.44 December 31, 2017 0.48 March 1, 2018 0.45...
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country...
Benjamin, Inc., operates an export/import business. The company
has considerable dealings with companies in the country of
Camerrand. The denomination of all transactions with these
companies is alaries (AL), the Camerrand currency. During 2017,
Benjamin acquires 22,000 widgets at a price of 8 alaries per
widget. It will pay for them when it sells them. Currency exchange
rates for 1 AL are as follows:
September 1, 2017
$
0.48
December 1, 2017
0.42
December 31, 2017
0.50
March 1, 2018...
Incorporationg Social Responsibility into import / export company
Incorporationg Social Responsibility into import / export
company
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When should a country export goods and when should a country
import goods
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place?
Do you think President Trumps strict trade policies will benefit
the country and why
1.Who can conduct import or export of goods in a country according to the relevant domestic...
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according to the relevant domestic law? Please list the parties
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How to repair the economy of the country after COVID-19. Explain
export, import, and unemployment
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8.
In regards to Brazil - how did the country end up with their
import/export structure and how they detected their comparative
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Country Analysis Selected Country: UNITED ARAB EMIRATES (UAE) International Trade and Investments: Export and Import, Trading...
Country Analysis
Selected Country: UNITED ARAB EMIRATES
(UAE)
International Trade and Investments:
Export and Import, Trading partners
Balance of payments
FDI
Global economic Integration
Openness, participation in trading blocs
Protectionism: Tariffs and quotas WTO membership
Economic challenges: Identify and discuss at least 2
economic challenges (defined broadly) faced by the country. Is the
country taking any steps to address the problems?
Summary about growth outlook
.
Note: Please do not copy paste plagiarism is
prohibited
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