Question Skin Corporation, a British subsidiary of Pin Corporation, declared and paid $£ 20,000$ in dividends on November 1, 2023. Convert the dividends to US dollars using the appropriate exchange rate.

Studdy Solution
Calculate the US dollar amount of the Dividends account balance.
$$US\, dollars = £20,000 \times \$1.52 = \$30,400$$
The Dividends account balance in US dollars is 30400.