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The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 December 31, 2017 Accounts payable (10,000 ) (21,500 ) Accounts receivable 33,000 83,000 Accumulated depreciation—buildings (24,000 ) (29,000 ) Accumulated depreciation—equipment 0 (5,400 ) Bonds payable—due 2020 (54,000 ) (54,000 ) Buildings 113,000 94,500 Cash 39,000 8,400 Common stock (63,000 ) (76,000 ) Depreciation expense 0 19,000 Dividends (10/1/17) 0 36,000 Equipment...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 December 31, 2017 Accounts payable (24,000 ) (31,500 ) Accounts receivable 45,000 95,000 Accumulated depreciation—buildings (36,000 ) (41,000 ) Accumulated depreciation—equipment 0 (6,600 ) Bonds payable—due 2020 (55,000 ) (55,000 ) Buildings 125,000 100,500 Cash 51,000 9,600 Common stock (60,000 ) (71,000 ) Depreciation expense 0 31,000 Dividends (10/1/17) 0 48,000 Equipment...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of
January 1, 2017, and December 31, 2017. All amounts are denominated
in kroner (Kr).
January 1, 2017
December 31, 2017
Accounts payable
(14,000
)
(22,000
)
Accounts receivable
40,000
90,000
Accumulated depreciation—buildings
(31,000
)
(36,000
)
Accumulated depreciation—equipment
0
(6,100
)
Bonds payable—due 2020
(50,000
)
(50,000
)
Buildings
120,000
98,000
Cash
46,000
9,100
Common stock
(70,000
)
(83,000
)
Depreciation expense
0
26,000
Dividends (10/1/17)
0
43,000
Equipment...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 (22,000) 47,000 (38,000) 0 (57,000) 127,000 53,000 (62,000) Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Bonds payable-due 2020 Buildings Cash Common stock Depreciation expense Dividends (10/1/17) Equipment Gain on sale of building Rent expense Retained earnings Salary expense Sales Utilities expense December 31, 2017 (26,500) 97,000 (43,000) (6,800) (57,000) 101,500 9,800...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 December 31, 2017 Accounts payable (24,000 ) (31,500 ) Accounts receivable 45,000 95,000 Accumulated depreciation—buildings (36,000 ) (41,000 ) Accumulated depreciation—equipment 0 (6,600 ) Bonds payable—due 2020 (55,000 ) (55,000 ) Buildings 125,000 100,500 Cash 51,000 9,600 Common stock (60,000 ) (71,000 ) Depreciation expense 0 31,000 Dividends (10/1/17) 0 48,000 Equipment...
The following account balances are for the Agee Company as of January 1, 2017, and December...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 December 31, 2017 Accounts payable (13,000 ) (19,500 ) Accounts receivable 41,000 91,000 Accumulated depreciation—buildings (32,000 ) (37,000 ) Accumulated depreciation—equipment 0 (6,200 ) Bonds payable—due 2020 (51,000 ) (51,000 ) Buildings 121,000 98,500 Cash 47,000 9,200 Common stock (71,000 ) (85,000 ) Depreciation expense 0 27,000 Dividends (10/1/17) 0 44,000 Equipment...
Please calculate the re-measurement(a.) and the translation adjustment (b.) below. The following account balances are for...
Please calculate the re-measurement(a.) and the translation
adjustment (b.) below.
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr) January 1, 2017 31, 2017 Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Bonds payable-due 2020 Buildings Cash Common stock Depreciation expense Dividends (10/1/17) Equipment Gain on sale of building Rent expense Retained earnings Salary expense Sales Utilities expense (14,000) 40,000 (22,000) 90,000 36,000) (6,100)...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 30,800 dinars accounts receivable of 82,500 dinars, and land that cost 225,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 175,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 145,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 25,200 dinars accounts receivable of 81,400 dinars, and land that cost 214,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 164,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 134,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a...
On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million...
On December 18, 2017, Stephanie Corporation acquired 100 percent
of a Swiss company for 4.0 million Swiss francs (CHF), which is
indicative of book and fair value. At the acquisition date, the
exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and
fair values of the subsidiary’s assets and liabilities were:
Cash
CHF
814,000
Inventory
1,314,000
Property, plant & equipment
4,014,000
Notes payable
(2,128,000
)
Stephanie prepares consolidated financial statements on December
31, 2017. By that...
The following account balances are for the Agee Company as of
January 1, 2017, and December 31, 2017. All amounts are denominated
in kroner (Kr).
January 1, 2017
December 31, 2017
Accounts payable
(14,000
)
(22,000
)
Accounts receivable
40,000
90,000
Accumulated depreciation—buildings
(31,000
)
(36,000
)
Accumulated depreciation—equipment
0
(6,100
)
Bonds payable—due 2020
(50,000
)
(50,000
)
Buildings
120,000
98,000
Cash
46,000
9,100
Common stock
(70,000
)
(83,000
)
Depreciation expense
0
26,000
Dividends (10/1/17)
0
43,000
Equipment...
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr). January 1, 2017 (22,000) 47,000 (38,000) 0 (57,000) 127,000 53,000 (62,000) Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Bonds payable-due 2020 Buildings Cash Common stock Depreciation expense Dividends (10/1/17) Equipment Gain on sale of building Rent expense Retained earnings Salary expense Sales Utilities expense December 31, 2017 (26,500) 97,000 (43,000) (6,800) (57,000) 101,500 9,800...
Please calculate the re-measurement(a.) and the translation
adjustment (b.) below.
The following account balances are for the Agee Company as of January 1, 2017, and December 31, 2017. All amounts are denominated in kroner (Kr) January 1, 2017 31, 2017 Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Bonds payable-due 2020 Buildings Cash Common stock Depreciation expense Dividends (10/1/17) Equipment Gain on sale of building Rent expense Retained earnings Salary expense Sales Utilities expense (14,000) 40,000 (22,000) 90,000 36,000) (6,100)...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 30,800 dinars accounts receivable of 82,500 dinars, and land that cost 225,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 175,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 145,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a...
Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 25,200 dinars accounts receivable of 81,400 dinars, and land that cost 214,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 164,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 134,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a...
On December 18, 2017, Stephanie Corporation acquired 100 percent
of a Swiss company for 4.0 million Swiss francs (CHF), which is
indicative of book and fair value. At the acquisition date, the
exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and
fair values of the subsidiary’s assets and liabilities were:
Cash
CHF
814,000
Inventory
1,314,000
Property, plant & equipment
4,014,000
Notes payable
(2,128,000
)
Stephanie prepares consolidated financial statements on December
31, 2017. By that...
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> I got completely different answers, let me post below.
Jack Who Fri, Aug 6, 2021 8:22 AM