Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2011:

The appropriate exchange rates during 2011 were as follows:

The beginning balance of cash was 50,000 pesos on January 1, 2011, translated at 1 peso = $.18. What amount will Coyote Corp. report in its 2011 balance sheet for Cash?

Question

Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2011:
 
The appropriate exchange rates during 2011 were as follows:

The beginning balance of cash was 50,000 pesos on January 1, 2011, translated at 1 peso = $.18. What amount will Coyote Corp. report in its 2011 balance sheet for Cash?

Quizplus · Accepted Answer

The Answer of Coyote Corp. (a U.S. company in Texas) had the following series of transactions in a foreign country during 2011:
 
The appropriate exchange rates during 2011 were as follows:

The beginning balance of cash was 50,000 pesos on January 1, 2011, translated at 1 peso = $.18. What amount will Coyote Corp. report in its 2011 balance sheet for Cash?