Question

A group of companies controlled from the US has subsidiaries in the UK, South Africa, and France. Below, these subsidiaries are referred to as UK, SA, and FR respectively. As of 30 June 2002, intercompany indebtedness is as follows: Debtor Creditor Amount UK SA Rand 1,200,000 UK FR Euro 480,000 FR SA Rand 800,000 SA UK GBP 74,000 SA FR Euro 375,000 1. It is the company policy to net off intercompany balances to the greatest extent possible. The central treasury department is to use the following exchange rates for this purpose: - USD 1 = R6.126 - USD 1 = GBP 0.6800 - USD 1 = Euro 5.880 Required: Calculate the net payments between the subsidiaries.

          A group of companies controlled from the US has subsidiaries in the UK, South Africa, and France. Below, these subsidiaries are referred to as UK, SA, and FR respectively. As of 30 June 2002, intercompany indebtedness is as follows:

Debtor   Creditor   Amount
UK       SA         Rand 1,200,000
UK       FR         Euro 480,000
FR       SA         Rand 800,000
SA       UK         GBP 74,000
SA       FR         Euro 375,000

1. It is the company policy to net off intercompany balances to the greatest extent possible. The central treasury department is to use the following exchange rates for this purpose:
- USD 1 = R6.126
- USD 1 = GBP 0.6800
- USD 1 = Euro 5.880

Required: Calculate the net payments between the subsidiaries.

a group of company controlled from us has subsidiary in the uk south africa and france below these subsidiaries are referred to as ukas and fr respectively at 30 june 2002 inter company inde 28781

Added by Jennifer M.

Question

Please give Ace some feedback