Westmore, Ltd -On December 31,2011,Westmore Had Accounts Receivable of £280,000

question 4

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 2011: $\begin{array}{lrl}\text { Jan. } 1 & £ .1=\$ 1.60 \\\text { June } 30 & £ .1=\$ 1.64 \\\text { Dec. } 31 & £ .1=\$ 1.61\\\text { Weighted average rate for the year }& £ .1=\$ 1.59\\\end{array}$
-On December 31,2011,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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