On March 1, 20X8, Wilson Corporation sold goods for a U. S. dollar equivalent of $31,000 to a Thai company. The transaction is denominated in Thai baht. The payment is received on May 10. The exchange rates were: March 1: 1 baht = $0.031 May 10: 1 baht = 0.034 What entry is required to revalue foreign currency payable to U. S. dollar equivalent value on May 10?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On March 1, 20X8, Wilson Corporation sold goods for a U. S. dollar equivalent of $31,000 to a Thai company. The transaction is denominated ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
After conducting a market research study, Stewart Manufacturing decided to produce a new interior door to complement its exterior door line. It is estimated that the new interior door can be sold at a target price of $120.
Answers (1)
Joaquin didn't buy a tablet computer when they first came out, but he did purchase one a year after they wereintroduced to the market.
Answers (1)
Martha contacts a bakery to get a cake for her son's birthday party. She tells the baker that she will pay him $150 for the cake if he delivers the cake on Friday evening.
Answers (1)
A metal fabrication company is considering entering the global market. It is unsure of what steps to take and is looking for a cost-effective method to enter into the market by partnering with a company who is already doing similar business in the
Answers (1)
Fred ran short on cash and borrowed $300 through a payday loan company. the company charged him a fee of $60 to borrow the $300 for 14 days. using the simple interest method calculate what interest rate was fred charged for the aforementioned loan.
Answers (1)
New Questions in Business
7. Two farmers, A and B, each apply 100 tons of manure on their fields. To reduce manure runoff, the government has decided to require a permit for each ton of manure applied. The government gives each farmer 50 permits.
Answers (1)
Anthony and cathy smith have been married for thirty-one years. they have always had a joint bank account, discuss big expenditures before making them, and share household duties.
Answers (1)
Assume there is a decrease in the market demand for a good sold by price-taking firms that are initially producing the profit-maximizing level of output. For the individual firm, this would result in:
Answers (1)
A company uses the periodic inventory system and had the following activity during the current monthly period.
Answers (1)
Recently, Pfizer and Allergan - the makers of Viagra and Botox, respectively - initiated a $160 billion merger. Pharmaceutical companies tend to spend a greater percentage of sales on R&D activities than other industries.
Answers (1)