Westmore Ltd On December 31, 2013, Westmore Had Accounts Receivable of £280,000

question 9

Multiple Choice

Westmore Ltd., is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (£) . The following exchange rates were in effect during 2013: $\begin{array}{ll}\text { Jan. } 1 & £ 1=\$ 1.60 \\\text { June } 30 & £ 1=\$ 1.64 \\\text { Dec. 31 } & £ 1=\$ 1.61 \\\text { Weighted average rate for the year } & £ 1=\$ 1.59\end{array}$ On December 31, 2013, Westmore had accounts receivable of £280,000. What amount (rounded) would have been included for this subsidiary in calculating consolidated accounts receivable?

• A)$173,913.
• B)$176,100.
• C)$445,200.
• D)$448,000.
• E)$450,800.

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