Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2024: March 1 May 1 August 1 September 1 Bought inventory costing 100,000 pesos on credit. Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2024 are as follows: U.S. Dollar per Peso $ 0.10 Date March 1 May 1 August 1 September 1 December 31 0.12 0.13 0.14 0.15 Assume that all receipts were converted into dollars as soon as they were received. Required: For each of the following accounts, what amount will Voltac report on its 2024 financial statements? a. Inventory b. Cost of goods sold c. Sales d. Accounts receivable e. Accounts payable f. Cash
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- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 110,000 pesos on credit. Sold 60 percent of the inventory for 90,000 pesos on credit. Collected 75,000 pesos from customers. Paid 65,000 pesos to suppliers. March 1 May 1 August 1 September 1 Currency exchange rates for 1 peso for 2020 are as follows: U.S. Dollar per Peso $ 0.19 Date March 1 May 1 0.20 August 1 September 1 0.21 0.22 0.23 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Inventory b Cost of goods sold Sales Accounts receivable e Accounts payable f CashVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 116,000 pesos on credit. March 1 May 1 August 1 September 1 Sold 60 percent of the inventory for 96,000 pesos on credit. Collected 78,000 pesos from customers. Paid 68,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a b C d Inventory Cost of goods sold Sales Accounts receivable U.S. Dollar per Peso $ 0.25 0.26 0.27 0.28 0.29 e Accounts payable f CashVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: Bought inventory costing 100,000 pesos on credit. March 1 May 1 August 1 September 1 Sold 60 percent of the inventory for 80,000 pesos on credit. Collected 70,000 pesos from customers. Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Inventory Cost of goods sold с Sales d Accounts receivable e Accounts payable Cash U.S. Dollar per Peso $ 0.10 0.12 0.13 0.14 0.15 a b
- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 113,000 pesos on credit. May 1 August 1 Sold 60 percent of the inventory for 93,000 pesos on credit. Collected 76,500 pesos from customers. September 1 Paid 66,500 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date March 1 May 1 August 1 September 1 December 31 с Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a b d Inventory Cost of goods sold Sales U.S. Dollar per Peso $ 0.22 0.23 0.24 0.25 0.26 Accounts receivable e Accounts payable f CashVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 112,000 pesos on credit. May 1 Sold 80 percent of the inventory for 92,000 pesos on credit. August 1 Collected 76,000 pesos from customers. September 1 Paid 66,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.21 May 1 0.22 August 1 0.23 September 1 0.24 December 31 0.25 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? a. Inventory b.Cost of goods sold c. SalesVoltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 118,000 pesos on credit. May 1 Sold 80 percent of the inventory for 98,000 pesos on credit. August 1 Collected 79,000 pesos from customers. September 1 Paid 69,000 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.16 May 1 0.17 August 1 0.18 September 1 0.19 December 31 0.20 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, what amount will Voltac report on its 2020 financial statements? Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 118,000 pesos on credit. May 1 Sold 80 percent of the inventory for 98,000 pesos on…
- Voltac Corporation (a U.S.-based company) has the following import/export transactions denominated in Mexican pesos in 2020: March 1 Bought inventory costing 119,000 pesos on credit. May 1 Sold 60 percent of the inventory for 99,000 pesos on credit. August 1 Collected 79,500 pesos from customers. September 1 Paid 69,500 pesos to suppliers. Currency exchange rates for 1 peso for 2020 are as follows: Date U.S. Dollar per Peso March 1 $ 0.17 May 1 0.18 August 1 0.19 September 1 0.20 December 31 0.21 Assume that all receipts were converted into dollars as soon as they were received. Voltac will report each of the following accounts on its 2020 financial statements. Inventory $8,092 Cost of goods sold $12,138 Sales $17,820 Accounts receivable $4,095 Accounts payable $10,395 Cash $1,205 What are the corresponding journal entries?Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 Bought inventory costing 108,000 pesos on credit. May 1 Sold 70 percent of the inventory for 88,000 pesos on credit. August 1 Collected 74,000 pesos from customers. September 1 Paid 64,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 $0.17 May 1 0.18 August 1 0.19 September 1 0.20 December 31 0.21 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, how much will Voltac report on its 2017 financial statements? a.inventory b. cost of goods sold c. sales d. accounts receivable e. accounts payable f. cashVoltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 Bought inventory costing 100,000 pesos on credit. May 1 Sold 60 percent of the inventory for 80,000 pesos on credit. August 1 Collected 70,000 pesos from customers. September 1 Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 $0.10 May 1 0.12 August 1 0.13 September 1 0.14 December 31 0.15 Page 465For each of the following accounts, how much will Voltac report on its 2017 financial statements? Inventory. Cost of Goods Sold. Sales. Accounts Receivable. Accounts Payable. Cash.
- Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 Bought inventory costing 108,000 pesos on credit. May 1 Sold 70 percent of the inventory for 88,000 pesos on credit. August 1 Collected 74,000 pesos from customers. September 1 Paid 64,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 $ 0.17 May 1 0.18 August 1 0.19 September 1 0.20 December 31 0.21 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, how much will Voltac report on its 2017 financial statements? a. inventory b. cost of goods sold c. sales d. accounts receivable e. accounts payable f. cashVoltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 Bought inventory costing 100,000 pesos on credit. May 1 Sold 60 percent of the inventory for 80,000 pesos on credit. August 1 Collected 70,000 pesos from customers. September 1 Paid 60,000 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 $0.10May 1 0.12August 1 0.13September 1 0.14December 31 0.15 For each of the following accounts, how much will Voltac report on its 2017 financial statements?a. Inventory.b. Cost of Goods Sold.c. Sales.d. Accounts Receivable.e. Accounts Payable.f. Cash.Voltac Corporation (a U.S. company located in Charlotte, North Carolina) has the following import/export transactions denominated in Mexican pesos in 2017: March 1 Bought inventory costing 117,000 pesos on credit. May 1 Sold 70 percent of the inventory for 97,000 pesos on credit. August 1 Collected 78,500 pesos from customers. September 1 Paid 68,500 pesos to suppliers. Currency exchange rates for 1 peso for 2017 are as follows: March 1 $ 0.15 May 1 0.16 August 1 0.17 September 1 0.18 December 31 0.19 Assume that all receipts were converted into dollars as soon as they were received. For each of the following accounts, how much will Voltac report on its 2017 financial statements? a. Inventory b. Cost of Good Sold c. Sales d. A/ R e. A/P F. Cash