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On October 1, 2020, CaPhe Vietnam sold a technology to Cafe Costa Rica for 15,000 costa rican colon. The settlement date is February 1, 2021. CaPhe Vietna has a fiscal year-end of December 31 and uses Vietnam Dong as its functional and reporting currency. Spot rate October 1, 2020 Spot rate December 31, 2020 Spot rate February 1, 2021 36.24 Dong 35.78 Dong 34.89 Dong Determine CaPhe Vietnam's accounts receivable balance on the 2020 balance sheet date. Determine Caphe Vietnam's foreign exchange gain or loss on the 2020 financial statements. Determine Caphe Vietnam's foreign exchange gain or loss on the 2021 financial statements. Determine Caphe Vietnam's cumulative foreign exchange gain or loss related to this transaction. Numerical Amount A B D F Gain (g) or Loss (L) cell not applicable C E G Round all answers to the nearest whole number. For example, 1.234 is rounded to 1 and 1.567 is rounded to 2. The answers to A, B, D, F should be a number. The answers to C, E, and G, should be either G for foreign exchange gain or L for foreign exchange loss.

On October 1, 2020, CaPhe Vietnam sold a technology to Cafe Costa Rica for 15,000 costa rican colon. The settlement date is February 1, 2021. CaPhe Vietna has a fiscal year-end of December 31 and uses Vietnam Dong as its functional and reporting currency. Spot rate October 1, 2020 Spot rate December 31, 2020 Spot rate February 1, 2021 36.24 Dong 35.78 Dong 34.89 Dong Determine CaPhe Vietnam's accounts receivable balance on the 2020 balance sheet date. Determine Caphe Vietnam's foreign exchange gain or loss on the 2020 financial statements. Determine Caphe Vietnam's foreign exchange gain or loss on the 2021 financial statements. Determine Caphe Vietnam's cumulative foreign exchange gain or loss related to this transaction. Numerical Amount A B D F Gain (g) or Loss (L) cell not applicable C E G Round all answers to the nearest whole number. For example, 1.234 is rounded to 1 and 1.567 is rounded to 2. The answers to A, B, D, F should be a number. The answers to C, E, and G, should be either G for foreign exchange gain or L for foreign exchange loss.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On October 1, 2020, CaPhe Vietnam sold a technology to Cafe Costa Rica for 15,000 costa rican colon. The settlement date is February 1, 2021. CaPhe Vietnam has a fiscal year-end of December 31 and uses Vietnam Dong as its functional and reporting currency. Spot rate October 1, 2020 Spot rate December 31, 2020 Spot rate February 1, 2021 36.24 Dong 35.78 Dong 34.89 Dong Determine CaPhe Vietnam's accounts receivable balance on the 2020 balance sheet date. Determine CaPhe Vietnam's foreign exchange gain or loss on the 2020 financial statements. Determine CaPhe Vietnam's foreign exchange gain or loss on the 2021 financial statements. Determine CaPhe Vietnam's cumulative foreign exchange gain or loss related to this transaction. Numerical Amount A B D Gain (g) or Loss (L) cell not applicable C F G Round all answers to the nearest whole number. For example, 1.234 is rounded to 1 and 1.567 is rounded to 2. The answers to A, B, D, F should be a number. The answers to C, E, and G, should be either G for foreign exchange gain or L for foreign exchange loss.
Transcribed Image Text:On October 1, 2020, CaPhe Vietnam sold a technology to Cafe Costa Rica for 15,000 costa rican colon. The settlement date is February 1, 2021. CaPhe Vietnam has a fiscal year-end of December 31 and uses Vietnam Dong as its functional and reporting currency. Spot rate October 1, 2020 Spot rate December 31, 2020 Spot rate February 1, 2021 36.24 Dong 35.78 Dong 34.89 Dong Determine CaPhe Vietnam's accounts receivable balance on the 2020 balance sheet date. Determine CaPhe Vietnam's foreign exchange gain or loss on the 2020 financial statements. Determine CaPhe Vietnam's foreign exchange gain or loss on the 2021 financial statements. Determine CaPhe Vietnam's cumulative foreign exchange gain or loss related to this transaction. Numerical Amount A B D Gain (g) or Loss (L) cell not applicable C F G Round all answers to the nearest whole number. For example, 1.234 is rounded to 1 and 1.567 is rounded to 2. The answers to A, B, D, F should be a number. The answers to C, E, and G, should be either G for foreign exchange gain or L for foreign exchange loss.
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