Post Inc had a receivable from a foreign customer that is a payable in the costumers local currency. On December 31, 2013, Post correctly included this receivable for 377,500 local currency units (LCU) in its balance sheet at $290,000. When Post collected the receivable on February 15, 2014 the US dollar equivalent was $273,900. In Posts 2014 consolidated Income Statement, how much should it report as a foreign exchange loss?
Recently Asked Questions
- Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is
- Explain how the number of valence electrons is related to the chemical properties of an atom. Use two specific examples in your explanation.
- One of your relatives suggests to you that our country should stop trading with other countries because imports take away jobs and lower our national