23 - Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of $1 = 6.95. Which of the following calculations is correct in this situation? a) 646 Exchange Profits Hs. 97,300 TL (Creditor) B) 646 Exchange Profits Hs. 4.900 TL (Borrower) NS) 646 Exchange Profits Hs. 4.900 TL (Creditor) D) 656 Foreign Exchange Losses Hs. 4.900 TL (Creditor) TO) 656 Foreign Exchange Losses Hs. 4.900 TL (Borrower)

23 - Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of $1 = 6.95. Which of the following calculations is correct in this situation? a) 646 Exchange Profits Hs. 97,300 TL (Creditor) B) 646 Exchange Profits Hs. 4.900 TL (Borrower) NS) 646 Exchange Profits Hs. 4.900 TL (Creditor) D) 656 Foreign Exchange Losses Hs. 4.900 TL (Creditor) TO) 656 Foreign Exchange Losses Hs. 4.900 TL (Borrower)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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23 -

Our business, 27.06.202. On the date of purchase, $14,000 was exchanged at the exchange rate of $1 = 6.95. Which of the following calculations is correct in this situation?

a)	646 Exchange Profits Hs. 97,300 TL (Creditor)

B)	646 Exchange Profits Hs. 4.900 TL (Borrower)

NS)	646 Exchange Profits Hs. 4.900 TL (Creditor)

D)	656 Foreign Exchange Losses Hs. 4.900 TL (Creditor)

TO)	656 Foreign Exchange Losses Hs. 4.900 TL (Borrower)

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$ 14000

1$ = 6.95

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