ACT506_CTAssignment_Mod03_Option01.xlsx

ACT506_CTAssignment_Mod03_Option01.xlsx - ACT506 Module 3...

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ACT506 Module 3 Critical Thinking Assignment Option #1 Dates 12/1/20x7 12/15/20x7 12/31/20x7 1/15/20x8 1/15/20x8 $ 1.50 $ 1.60 $ 1.70 $ 1.80 $ 1.80 Transactions 12/1/20x7 12/15/20x7 Summer Corp maintains its books in the U.S. dollars. Required: Show the journal entries required (if any) at each of the above dates for Company X only. No journal entries are required to be shown for Customer A or Vendor A-only Company X. You should use Excel to show the basis of each of your calculations for each numeric journal entry that you Follow the assumptions detailed in the above note for Company X in preparing your journal entries. See the Tab below titled Module 3 Journal Entries to prepare and explain each one of the required journal It is important that each journal entry that you make contains an explanation of why you did what you did If a journal entry (entries) are not required at one or more of the above dates, please type in the date and Spot Rates (US$ to ¥) Summer Corp acquired Product X from overseas Vendor A at a cost of ¥100,000 and paid cash on this date to Vendor A for the purchase.
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