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Business, 06.08.2019 19:20 christinaS3725

Detroit based auto corporation, purchased ancillaries from a japanese firm on december 1, 20x8, for 1,000,000 yen, when the spot rate for yen was $.0095. on december 31, 20x8, the spot rate stood at $.0096. on january 10, 20x9 auto paid 1,000,000 yen acquired at a rate of $.0094. auto's income statements should report a foreign exchange gain or loss for the years ended december 31, 20x8 and 20x9 of: 20x8 20x9 a. $ 0 $ 0 b. $ 100 loss $ 200 gain c. $ 0 $ 100 gain d. $ 100 gain $ 100 loss

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Detroit based auto corporation, purchased ancillaries from a japanese firm on december 1, 20x8, for...
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