On February 1, Synergy Import-Export Company Sells Merchandise to Japanese

question 101

Multiple Choice

On February 1, Synergy Import-Export Company sells merchandise to Japanese firms costing 90,000 yen.Payment will be made in Japanese yen on May 1.The exchange rates of yen for $1 were as follows:


-
Calculate the receivable in dollars on February 1.(Note: Round answer to the nearest cent.)
On February 1, Synergy Import-Export Company sells merchandise to Mexican firms costing 90,000 pesos.Payment will be made in pesos, on May 1.The exchange rates of pesos for $1 were as follows:
February 1 $1 = 10.9 pesos
May 1 $1 = 11.4 pesos
Calculate the receivable in dollars on February 1.(Note: Round answer to the nearest dollar.)

---

Definitions:

Noncontrolling Interest

A portion of equity (ownership) interest in a subsidiary not owned by the parent company, reflecting the share of the subsidiary not attributable directly to the parent company's shareholders.

Equipment Undervalued

A situation where the recorded book value of equipment on the financial statements is less than its current market value.

Partial Equity Method

An accounting approach used for investments where the investor has significant influence but not full control, recognizing income based on the proportionate share of the investee's earnings.

Investment

Allocating resources, usually money, with the expectation of generating an income or profit.