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Tomm Tomm
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6 years ago
Distribution Services Inc., a Canadian company, sold merchandise on account to Battle River Corporation, a British company, for 400,000 British pounds. The relevant exchange rates for the British pound were as follows:

   Date of sale/delivery   $1.48
   Date of cash receipt   $1.49

The exchange rate gain or loss for Distribution Services on this transaction was:
A) $4,000 loss
B) $8,000 loss
C) $4,000 gain
D) $8,000 gain
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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ACC 925
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msayed2004msayed2004
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6 years ago
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