On September 1,2014,Bylin Company Purchased Merchandise from Himeji Company of Japan

question 17

Essay

On September 1,2014,Bylin Company purchased merchandise from Himeji Company of Japan for 20,000,000 yen payable on October 1,2014.The spot rate for yen was $0.0079 on September 1 and the spot rate was $0.0077 on October 1.The purchase was paid on October 1,2014.
Required:
1.Did the U.S.dollar strengthen or weaken from September to October and what are the implications for Bylin's business?
2.What journal entry did Bylin record on September 1,2014?
3.What journal entry did Bylin record on October 1,2014?

---

Definitions:

Theory X

A management theory suggesting that employees are inherently lazy and will avoid work if they can, necessitating a controlling management style.

Employee Involvement

The degree to which employees are allowed or encouraged to contribute ideas and participate in decisions within their workplace.

Production Line Approach

A method of manufacturing in which products are assembled progressively from components to finished goods while moving continuously along a conveyor or line.

Dynamic

Characterized by continuous change, activity, or progress, often used to describe systems, processes, or personalities.