Coyote Corp The Appropriate Exchange Rates During 2013 Were as Follows

question 54

Essay

Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2013: $$\begin{array} { | l | l | } \hline \text { Mar. 1 } & \text { Bought inventory costing } 60,000 \text { pesos on credit. } \\\hline \text { May 1 } & \text { Sold } 60 \% \text { of the inventory for } 54,000 \text { pesos on credit. } \\\hline \text { Aug. 1 } & \text { Collected } 48,000 \text { pesos from customers } \\\hline \text { Sept. 1 } & \text { Paid } 36,000 \text { pesos to creditors } \\\hline\end{array}$$ The appropriate exchange rates during 2013 were as follows: $\begin{array}{|c|c|}\hline & \text { Exchange } \\\hline \text { Date } & \text { Rate } \\\hline \text { March } 1,2013 & \$ .20=1 \text { peso } \\\hline \text { May } 1,2013 & \mathbf{\$ . 2 2}=1 \text { peso } \\\hline \text { August } 1,2013 & \mathbf{\$ . 2 3}=1 \text { peso } \\\hline \text { September } 1,2013 & \mathbf{\$ . 2 4}=1 \text { peso } \\\hline \text { December } 31,2013 & \mathbf{\$ . 2 5}=1 \text { peso } \\\hline\end{array}$ Prepare all journal entries in U.S. dollars along with any December 31, 2013 adjusting entries. Coyote uses a perpetual inventory system.

---

Definitions:

Traditional Work Team

A group of individuals who work together in a conventional setting to achieve common goals, typically with defined roles and a hierarchical leadership structure.

Self-Managed Operational Team

A group of employees responsible for controlling and managing their work processes and tasks without direct supervision.

Self-Managed Teams

Teams that operate with a high degree of autonomy, with members collectively making decisions and managing work processes without direct supervision.

Organizational Commitment

The level of attachment and loyalty an individual has towards their organization, often influencing their willingness to remain in the organization and exert high levels of effort.