Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2021: The appropriate exchange rates during 2021 were as follows: The beginning balance of cash was 50,000 pesos on January 1, 2021, translated at 1 peso = $0.18. What amount will Coyote Corp. report in its 2021 balance sheet for Cash?

Question

Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2021:  The appropriate exchange rates during 2021 were as follows:  The beginning balance of cash was 50,000 pesos on January 1, 2021, translated at 1 peso = $0.18. What amount will Coyote Corp. report in its 2021 balance sheet for Cash?

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The Answer of Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2021:  The appropriate exchange rates during 2021 were as follows:  The beginning balance of cash was 50,000 pesos on January 1, 2021, translated at 1 peso = $0.18. What amount will Coyote Corp. report in its 2021 balance sheet for Cash?