4. Masters Corp has a 100,000 foreign currency denominated accounts receivable on its books thatis due to be collected in on June 30, 2011. The following are the US dollar equivalents for thisreceivable at various dates:January 1, 2010March 31, 2010$35,000$38,000$34,000December 31, 2010June 30, 2011April 30, 2010What is the FX transaction gain or loss as of the following dates:a. Quarter ending March 31, 2010b. Month ending April 30, 2010c. Year ending December 31, 2010d. Six months ended June 30, 2011$32,000$40,000

4. Masters Corp has a 100,000 foreign currency denominated accounts receivable on its books that is due to be collected in on June 30, 2011. The following are the US dollar equivalents for this receivable at various dates: January 1, 2010 March 31, 2010 $35,000 $38,000 $34,000 April 30, 2010 What is the FX transaction gain or loss as of the following dates: a. Quarter ending March 31, 2010 b. Month ending April 30, 2010 December 31, 2010 June 30, 2011 c. Year ending December 31, 2010 d. Six months ended June 30, 2011 $32,000 $40,000

4. Masters Corp has a 100,000 foreign currency denominated accounts receivable on its books that is due to be collected in on June 30, 2011. The following are the US dollar equivalents for this receivable at various dates: January 1, 2010 March 31, 2010 $35,000 $38,000 $34,000 April 30, 2010 What is the FX transaction gain or loss as of the following dates: a. Quarter ending March 31, 2010 b. Month ending April 30, 2010 December 31, 2010 June 30, 2011 c. Year ending December 31, 2010 d. Six months ended June 30, 2011 $32,000 $40,000

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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