P12-17 - P12-17 a. Translation, Journal Entries,...

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P12-17 Translation, Journal Entries, Consolidated Comprehensive Income, and Stockholders' Equity a. Vikix Inc. Trial Balance Translation December 31, 20X5 Balance Exchange Balance Item Kroner Rate Dollars Cash NKr 150,000 .21 $ 31,500 Accounts Receivable (net) 200,000 .21 42,000 Inventory 270,000 .21 56,700 Property, Plant, and Equipment 600,000 .21 126,000 Cost of Goods Sold 410,000 .20 82,000 Operating Expenses 100,000 .20 20,000 Depreciation Expense 50,000 .20 10,000 Dividends Paid 40,000 .19 7,600 Total Debits NKr 1,820,000 $375,800 Accumulated Depreciation NKr 150,000 .21 $ 31,500 Accounts Payable 90,000 .21 18,900 Notes Payable 190,000 .21 39,900 Common Stock 450,000 .18 81,000 Retained Earnings 250,000 .18 45,000 Sales 690,000 .20 138,000 Total NKr 1,820,000 $354,300 Accumulated Other Comprehensive Income — Translation Adjustment (credit) 21,500 Total Credits $375,800
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P12-17 b. Entries for 20X5: January 1 Investment in Vikix Company Common 151,200 Cash 151,200 Purchase of Vikix Inc. July 1
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P12-17 - P12-17 a. Translation, Journal Entries,...

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