Watt Company, a U.S. multinational enterprise, purchased goods


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Watt Company, a U.S. multinational enterprise, purchased goods from Kluger Company of Germany on March 1, 2002, for 30,000 euros (C) when the selling spot rate was C1 = $1.0895. Watt’s fiscal year-end was March 31, 2002, when the selling spot rate was C1 = $1.0845. Watt acquired C30,000 and paid the invoice on April 20, 2002, when the selling spot rate was C1 = $1.0945. What amounts are displayed in Watt’s income statements as foreign currency transaction gains or losses for the years ended March 31, 2002, and 2003? 20022003 A)$0 – $0 B)$0 – $150 loss C)$150 loss – $0 D)$150 gain – $300 kickstart87888
posted a question ยท Apr 28, 2016 at 9:13am

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