Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (?). The following exchange rates were in effect during 2011:

On December 31, 2011, Westmore had accounts receivable of ?280,000. What amount (rounded) would have been included for this subsidiary in calculating consolidated accounts receivable?

A) $173,913.
B) $176,100.
C) $445,200.
D) $448,000.
E) $450,800.

Question

Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (?). The following exchange rates were in effect during 2011:

On December 31, 2011, Westmore had accounts receivable of ?280,000. What amount (rounded) would have been included for this subsidiary in calculating consolidated accounts receivable?

A) $173,913. 
B) $176,100. 
C) $445,200. 
D) $448,000. 
E) $450,800.

Quizplus · Accepted Answer

The Answer of Westmore, Ltd. is a British subsidiary of a U.S. company. Westmore's functional currency is the pound sterling (?). The following exchange rates were in effect during 2011:

On December 31, 2011, Westmore had accounts receivable of ?280,000. What amount (rounded) would have been included for this subsidiary in calculating consolidated accounts receivable?

A) $173,913. 
B) $176,100. 
C) $445,200. 
D) $448,000. 
E) $450,800.