Homework Answers
The value of sales on December 31, 2019 is calculated as below:
Value of Sales on December as on December 31, 2019 = Sales in Euro as on December 31, 2019*Exchange Rate on December 31, 2019
Substituting values in the above formula, we get,
Value of Sales on December as on December 31, 2019 = 39,000*1.17 = $45,630 (answer)
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Translation of financial statements A U.S.-based MNC has a subsidiary in France (local currency, euro, €)....
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in thousands (000's)):
The subsidiary acquired the inventory on August 1, 2016, and the
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a. Assuming the NGN is the subsidiary's functional currency,
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where the local currency unit is the naira (NGN). On December 31,
2016, the subsidiary had the following balance sheet (amounts are
in thousands (000's)):
The subsidiary acquired the inventory on August 1, 2016, and the
land and building in 2010. It issued the common stock in 2008.
During 2017, the following transactions took place:
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