aa3e_ham_p7.6 solution 043015.xls - Student Name Class Problem Focus Instructor Advanced Accounting P7.6 Translation and Remeasurement of Subsidiary

# aa3e_ham_p7.6 solution 043015.xls - Student Name Class...

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Student Name: Instructor Class: Advanced Accounting Problem: P7.6 Focus: Translation and Remeasurement of Subsidiary Trial Balance a. Denner's functional currency is the U.S. dollar. Prepare Denner's remeasured trial balance and schedule showing the computation of the remeasurement gain or loss for 2017. (in thousands) Remeasured Trial Balance December 31, 2017 CHF \$/CHF \$ Cash, receivables CHF 30,000 1.09 \$ 32,700 Inventories 55,000 1.08 \$ 59,400 Plant and equipment, net 175,000 N/A \$ 180,530 Accounts and notes payable (120,000) 1.09 \$ (130,800) Common stock (30,000) 1.03 \$ (30,900) Retained earnings, beginning (80,000) 1.03 \$ (82,400) Dividends 20,000 1.09 \$ 21,800 Sales (500,000) 1.06 \$ (530,000) Cost of sales 375,000 N/A \$ 394,600 Operating expenses 75,000 N/A \$ 79,370 Remeasurement (gain) loss - below \$ 5,700 CHF - \$ - Good Job! Computation of Remeasurement (Gain) Loss Year Ended December 31, 2017 CHF \$/CHF \$ Beginning exposed position CHF (100,000) 1.03 \$ (103,000) Sales 500,000 1.06 530,000 Purchases (370,000) 1.06 (392,200) Cash operating expenses (70,000) 1.06 (74,200) Dividends (20,000) 1.09 (21,800) Plant and equipment acquisition (30,000) 1.04 (31,200) (92,400) Ending exposed position CHF

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• Spring '17