Please note that for Dividend amount I had used different rate, which was given in the Question.
E7.11 Translated and Remeasured Trial BalancesThe inode Company established a wholly-owned on January 1, 2019, when...
Please assist with parts a and b. P7.9 Translated/Remeasured Trial Balances On January 1, 2019, the U.K. subsidiary of U.S. Intema- tional Corporation had the following condensed balance sheet, in pounds sterling (in millions): Llabilitles and equlty Accounts payable... Long-term debt... Equity ... Assets Cash and receivables... Inventory (FIFO).. Plant assets... Accumulated depreciation £2,000 2,200 1,600 (400) £2,100 1,200 2,100 Total assets.... Total liabilities and equity ...... £5,400 £5,400 The exchange rate on January 1, 2019 was $1.20/£. Inventory at...
Ju yuui leasing and any assurpLUIIS Mdul. Translated/Remeasured Trial Balances On January 1, 2019, the U.K. subsidiary of national Corporation had the following condensed the following condensed balance sheet, in pounds sterling (in millions): Assets Cash and receivables.. Inventory (FIFO) ......... Plant assets .............. Accumulated depreciation. Total assets £2,000 2,200 1,600 (400) £5,400 Liabilities and equity Accounts payable..... Long-term debt. Equity ......... £2,100 1,200 2,100 Total liabilities and equity...... £5,400 The exchange rate on January 1, 2019 was $1.20/£. Inventory...
Remeasured and Translated Trial Balance On January 2, 2019, Maddox Corporation, head‑ quartered in the U.S., established a wholly‑owned subsidiary in Mexico City. An initial investment of P10,000,000 was made on that date; the exchange rate was $0.05/peso. During 2019, the following cash transactions occurred at the Mexico City subsidiary. All amounts are in pesos (P). Facilities costs (January 2; 5-year life) . . . . . . . . . . . . . . . . . ....
On January 2, 2019, Maddox Corporation, headquartered in the U.S., established a wholly- owned subsidiary in Mexico City. An initial investment of P10,000,000 was made on that date; the exchange rate was $0.05/peso. During 2019, the following cash transactions occurred at the Mexico City subsidiary. All amounts are in pesos (P). Facilities Costs (01/02; 5 year life) (P) 1,000,000 Purchase of office equip (04/01; 10 year life) (P) 300,000 Sales (P) 12,000,000 Merchandise purchases (P) 9,000,000 Operating expenses (P) 3,000,000...
Please assist with this Problem P7.5 • Consolidating Foreign Currency Financial Statements P7.5 Translation and Ratio Analysis Suppose that on January 1, 2020, La-z-Boy Ine, establish subsidiary in Ireland, La-z-Boy Ireland, to design, manufacture and distribute specialized furnitur European market. Its condensed balance sheet at January 1, 2020, in euros, is below (in thousands Assets Cash Plant assets, net.... Total assets 300,000 €400,000 Liabilities and equity Liabilities........................ Capital stock .. Total liabilities and equity..... €200,000 200,000 €400,000 At December 31,...
Please show solutions. A U.S. parent acquired a U.K. subsidiary on January 1, 2019. The subsidiary's functional currency is the pound, and its December 31, 2019 trial balance is as follows: January 1 December 31 Dr (Cr) £ 210,000 300,000 Dr (Cr) £ 180,000 330,000 Cash, receivables Inventories, at cost Plant & equipment, 1,030,000 1,050,000 net Liabilities (880,000) (180,000) (720,000) (180,000) Capital stock Retained earnings, beginning (480,000) (480,000) (3,000,000) 2,700,000 120,000 Revenues Expenses Dividends Exchange rates ($/£) are: January 1,...
Buch Corporation established a subsidiary in Romania on January 1, 2017 by investing Leu 3,200,000 when the exchange rate was $0.25/Leu. Josh Buch negotiated a bank loan of Leu 3,000,000 on January 5, 2017, and purchased plant and equipment in the amount of Leu 6,000,000 on January 8, 2017. The company depreciated plant and equipment on a straight-line basis over a 10 year useful life. It purchased it's beginning inventory of Leu 1,000,000 on January 10, 2017, and acquired additional...
A Belgium subsidiary’s beginning and ending trial balances appear below: Dr (Cr) January 1 December 31 Cash, receivables € 1,500 € 1,200 Inventories 3,000 3,500 Plant & equipment, net 30,000 39,000 Liabilities (18,500) (27,200) Capital stock (4,000) (4,000) Retained earnings, beginning (12,000) (12,000) Sales revenue -- (15,000) Cost of sales 9,500 Out-of-pocket selling & administrative expenses -- 4,000 Depreciation expense -- 1,000 Total € 0 € 0 Exchange rates ($/€) are: Beginning of year $1.25 Average for year 1.22 End of...
On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. RoadTime’s December 31, 20X1, trial balance in SFr is as follows: Debit Credit Cash SFr 7,000 Accounts Receivable (net) 20,000 Receivable from Popular Creek 5,000 Inventory 25,000 Plant & Equipment 100,000 Accumulated Depreciation SFr 10,000 Accounts Payable 12,000 Bonds Payable 50,000 Common Stock 60,000 Sales 150,000 Cost of Goods Sold 70,000 Depreciation Expense 10,000 Operating...
On January 1, 2019, Purple Inc. acquired Yellow Company as a wholly-owned subsidiary in Canada for $51,000 (US$). Yellow’s Dec 31, 2019 pre-closing Trial Balance in Canadian dollar (CAN$) is as follows: (in CAN$) Accounts Debit Credit Current assets 57,000 PP&E, net 90,000 Liabilities 62,000 Common stock 60,000 Retained earnings 0 Sales 150,000 COGS and Expenses 110,000 Dividends 15,000 Total 272,000 272,000 Additional information: a) Canadian dollar is the functional currency for Yellow Company. b) Dividends were declared and paid...