Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. spindie, incorporated (a u.s. based company), impo

Spindie, Incorporated (a U.S. based company), imports surfboards from a supplier in Brazil and sells...

90.2K

Verified Solution

Question

Accounting

image
Spindie, Incorporated (a U.S. based company), imports surfboards from a supplier in Brazil and sells thim in the United States: Purchases are denominated in terms of the Brazilian reat (BRI). During 2023, Spindler acquires 430 surfboards at a price of BRL 1,600 per surfboard, for a total of BRL 688,000. Spindier will pay for the surthoards when it sells them. Relevart exchange fates are as follows: Required: 6. Assume that Spindler acquired the surfboards on September 1, 2023, and made payment on December 1, 2023. What is the effect of the exchange rate fluctuations on reported income in 2023 ? b. Assume that Spindier acquired the surfboards on December 1, 2023, and made paymeht on March 1, 2024. What is the effect of the exchange rate fluctuations on reported income in 2023 and 2024 ? c. Assume that Spindler acquired the surfboards on September 1, 2023, and made payment on March 1, 2024. What is the effect of the exchange rate fluctuations on reported income in 2023 and in 2024 ? Note: Input all omounts as positive values

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Eva received $57,000 in compensation payments from JAZZ Corp.during 2020. Eva incurred $8,000 in...

Accounting
Q

A rough analysis of cell contents suggests their cytoplasm contains 5% by weight of solutes: 1%...

Chemistry
Q

Show that the map T(a,b,c) = (bx^2 + cx + a) is an isomoprhism between R^3...

Advance Math
Q

0 What is the evolutionary advantage of the compartmentalization of core metabolic processes 11 What...

Biology
Q

A conducting ring of radius r is rolling without slipping with a constant angular velocity...

Physics
Q

Theme William Golding says the theme of the book is an attempt to trace the...

Basic Math
Q

7 Jim spends his weekly income as follows food 200 outstanding loan payments 10 transportation...

Statistics
Q

Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing...

Accounting
Q

Given the following information, compute accounts receivable turnover: Gross sales $150,000 Accounts...

Accounting
Q

(a) Your answer is incorrect. George wishes to accumulate $2,500,000. His money market fund has...

Accounting
Q

One of the cost pools at Rondelle Store is the Personnel department that provides recruiting...

Accounting
Q

Hi, I have been working on this question for a few hours trying to figure...

Accounting