What would be the net impact on car corps, Accounting Basics

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What would be the net impact on car corps

Car Corp. (a U.S. based company) sold parts to a Korean customer on December 16,2011, with payment of 10 million Korean won to be received on January 15, 2012. The following exchange rates applied:

Spot rate Forward Rate to Jan.15

December 16,2011 .00092 .00098

December 31, 2011 .00090 .00093

January 15, 2012 .00095 .00095

Assuming a forward contract was not entered into, what would be the net impact on Car Corp's 2011 income statement related to this transaction?

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Accounting Basics: What would be the net impact on car corps

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Recent Questions Asked Accounting Basics

Q : What is the mass of eros

Q : How much can sheldon deduct

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Q : What would be the net impact on car corps

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What would be the net impact on car corps

Reference No:- TGS0697837

Recent Questions Asked Accounting Basics

Q : What is the mass of eros

Q : How much can sheldon deduct

Q : What effect does lowering the estimate for doubtful account

Q : How much can leonard deduct in the year

Q : What would be the net impact on car corps

Q : What is the forward price for risk-free interest rate

Q : How to the interest income must be included

Q : Particles electrostatic potential energy

Q : What amount would have been included

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