Adamantine Architectonics. Adamantine Architectonics consists of a U.S. parent and wholly owned subsidiaries in Malaysia (A-Malaysia)...
Adamantine Architectonics. Adamantine Architectonics consists of a U.S. parent and wholly owned subsidiaries in Malaysia (A-Malaysia) and Mexico (A-Mexico). Selected portions of their non-consolidated balance sheets, translated into U.S. dollars, are shown in the popup window, A-Malaysia (accounts in ringgits) A-Mexico (accounts in pesos) Long-term debt 12,300,000 Long-term debt 30,000,000 Shareholders' equity 16,810,000 Shareholders' equity 93,000,000 Adamantine Architectonics (Nonconsolidated Balance Sheet-Selected /Items Only) Investment in subsidiaries Parent long-term debt 18,000,000 In A-Malaysia 4,100,000 Common stock 6,000,000 In A-Mexico 6,200,000 Retained...
Adamantine Architectonics consists of a U.S. parent and wholly owned subsidiaries in Malaysia (A-Malaysia) and Mexico (A-Mexico). Selected portions of their non-consolidated balance sheets, translated into U.S. dollars, are shown below What are the debt and equity proportions in Adamantine's consolidated balancesheet? A-Malaysia (accounts in ringgits) A-Mexico (accounts in pesos) Lont-term debt RM 12,240,000 Long-term debt PS 34,800,000 Shareholder's equity RM 13,680,000 Shareholder's equity PS 88,450,000 Adamantine Architectonics (Nonconsolidated Balance Sheet- Selected Items Only) Investment in subsidiaries Parent long-term debt...
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...
The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: BALANCE SHEETS December 31, 2020 Patrick Sean Cash $ 78,000 $ 66,000 Accounts receivable (net) 130,000 38,000 Inventories 88,000 72,000 Plant and equipment (net) 632,000 276,000 Investment in Sean 464,000 - Total assets $ 1,392,000 $ 452,000 Accounts payable 152,000 94,000 Long-term debt 116,000 32,000 Common stock ($10 par) 320,000 54,000 Additional paid-in capital 8,000 Retained earnings 804,000 264,000 Total liabilities and shareholders'...
Solo Co. Ltd. located in Mexico City is a wholly owned subsidiary of Partner Inc., a U.S. company. At the beginning of the year, Solo’s condensed balance sheet was reported in Mexican pesos (MXP) as follows: Assets 3,490,000 Liabilities 2,900,000 Stockholders’ Equity 590,000 During the year, the company earned income of MXP270,000 and on November 1 declared dividends of MXP125,000. The Mexican peso is the functional currency. Relevant exchange rates between the peso and the U.S. dollar follow: January 1...
The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows: $ Sean 70,000 32,000 62,000 262,000 BALANCE SHEETS December 31, 2017 Patrick Cash 72,000 Accounts receivable (net) 140,000 Inventories 100,000 Plant and equipment (net) 634,000 Investment in Sean 464,000 Total assets $ 1,410,000 Accounts payable 144,000 Long-term debt 112,000 Common stock ($10 par) 328,000 Additional paid-in capital Retained earnings 826,000 Total liabilities and shareholders' $ 1,410,000 equity $ 426,000 96,000 34,000 68,000...
The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: BALANCE SHEETS December 31, 2020 Patrick Sean Cash $ 78,000 $ 66,000 Accounts receivable (net) 130,000 38,000 Inventories 88,000 72,000 Plant and equipment (net) 632,000 276,000 Investment in Sean 464,000 - Total assets $ 1,392,000 $ 452,000 Accounts payable 152,000 94,000 Long-term debt 116,000 32,000 Common stock ($10 par) 320,000 54,000 Additional paid-in capital 8,000 Retained earnings 804,000 264,000 Total liabilities and shareholders'...
The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows: $ Sean 70,000 32,000 62,000 262,000 BALANCE SHEETS December 31, 2017 Patrick Cash 72,000 Accounts receivable (net) 140,000 Inventories 100,000 plant and equipment (net) 634,000 Investment in Sean 464,000 Total assets $ 1,410,000 Accounts payable 144,000 Long-term debt 112.000 Common stock ($10 par) 328,000 Additional paid-in capital Retained earnings 826,000 Total liabilities and shareholders $ 1,410,000 equity $426,000 96,000 34,000 68,000 14,000...
Crab Beach Systems, a U.S. multinational producer of computer hardware, has subsidiaries located throughout the world. The company recently received year-end financial statements from its Swiss subsidiary, Doghead Technology. Doghead was purchased by Crab Beach on January 1, 2014. Doghead’s financial statements are prepared and submitted to Crab Beach headquarters in Swiss francs. The accountant in charge of translating the financial statements has been unable to locate last year’s translated financial statements. Instead, the only data available from last year...
Crab Beach Systems, a U.S. multinational producer of computer hardware, has subsidiaries located throughout the world. The company recently received year-end financial statements from its Swiss subsidiary, Doghead Technology. Doghead was purchased by Crab Beach on January 1, 2014. Doghead’s financial statements are prepared and submitted to Crab Beach headquarters in Swiss francs. The accountant in charge of translating the financial statements has been unable to locate last year’s translated financial statements. Instead, the only data available from last year...