Entity A, a government entity, acquires a machine for $10,000 on September 1, 20x1, on account, and settles the account on October 31, 20x1. Entity A classifies the
machine as PPE. The exchange rates are as follows:
September 1, 20x1
October 31, 20x1
December 31, 20x1
$1:P50O
$1:P45
$1:P40
In the Entity A's December 31, 20x1 statement of financial position, how much is the reported cost of the
machine?
Answers
Answered by
1
Answer:
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Answered by
1
Answer:
Explanation:
10,000 x 40= 400,000
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