Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees. To explain: the difference between direct and indirect exchange rates.

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Answer 1

Question

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

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On January 1, 2018, Sycamore International reports net assets of $1,245,000, although machinery (with an eight-year life) having a book value of $720,000 is worth $840,000 and an unrecorded trademark is valued at $75,600. Teton Group pays $1,140,000 on that date for a 90 percent ownership in Sycamore. If the trademark is to be written off over a 15-year period, at what amount should it be reported on the consolidated statements on December 31, 2020?

I want answer with all working format

Can you help me solve this general accounting question using the correct accounting procedures?

Answer 2

Question

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

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Answer 3

Question

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

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Answer 4

Question

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

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Answer 5

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

Answer 6

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

Answer 7

Chapter 11, Problem 11.1Q

To determine

Concept Introduction:

Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees.

To explain:the difference between direct and indirect exchange rates.

Answer 8

Expert Solution & Answer

Explanation of Solution

Exchange rates can be presented as direct or indirect exchange rate.

A direct exchange rate is the rate in which one unit of foreign currency is expressed in term of units of local currency.
On the other hand, the indirect rate is the rate in which one unit of local currency is expressed in term of units of foreign currency.

For example in India the direct exchange rate for U.S. dollar shall be $1 = Rs. 60 and indirect rate shall be Rs. 1 = $0.0167

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

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Exchange rate is a rate which at which one unit of a currency is exchanges with other curreny units. For example the exchange rate of $1 = Rs. 60 indicates one U.S. dollar can be exchanged for 60 Indian Rupees. To explain: the difference between direct and indirect exchange rates.

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