Homework Excel templates

Homework Excel templates - Student Name: Class: Problem...

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Student Name: Class: Problem 10-31 a. Translation of Kingston Subsidiary Trial Balance Debits Credits Cash Accounts Receivable Equipment Accumulated Depreciation Land Accounts Payable Notes Payable Common Stock Dividends Paid Sales Salary Expense Depreciation Expense Miscellaneous Expenses Translation adjustment Totals Calculation of Translation Adjustment Exchange KQ Rate Dollar Net assets, 1/1 Increase in net assets: Common stock issued Sales Decrease in net assets: Dividends paid Salary expense Depreciation expense Miscellaneous expense Net assets, 12/31 Net assets, 12/31 at current exchange rate Translation adjustment
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Student Name: Class: Problem 10-31 b. Remeasurement of Kingston Subsidiary Trial Balance Debits Credits Cash Accounts Receivable Equipment Accumulated Depreciation Land Accounts Payable Notes Payable Common Stock Dividends Paid Sales Salary Expense Depreciation Expense Miscellaneous Expenses Remeasurement loss Totals Calculation of Remeasurement Loss Exchange KQ Rate Dollar Net monetary assets, 1/1 Increase in net monetary assets: Common stock issued Sales Decrease in net monetary assets: Acquired equipment Acquired land Dividends paid Salary expense Miscellaneous expense Net monetary assets, 12/31 Net monetary assets, 12/31 at current exchange rate Remeasurement loss
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Student Name: Class: Problem 10-32 LIVINGSTON COMPANY Income Statement For Year Ending December 31, 2011 Exchange U.S. Goghs Rate Dollars Sales 270,000 Cost of goods sold (155,000) Gross profit 115,000 Operating expenses (54,000) Gain on sale of equipment 10,000 Net income 71,000 Statement of Retained Earnings For Year Ending December 31, 2011 Exchange U.S. Goghs Rate Dollars Retained earnings, 1/1/11 216,000 Net income 71,000 Less: Dividends paid (26,000) Retained earnings, 12/31/11 261,000 Balance Sheet December 31, 2011 Exchange U.S. Goghs Rate Dollars Assets Cash 44,000 Receivables 116,000 Inventory 58,000 Fixed assets (net) 339,000 Total 557,000 Liabilities and Equities Liabilities 176,000 Common stock 120,000 Retained earnings 261,000 Translation adjustment Total 557,000 Exchange U.S. Translation Adjustment Goghs Rate Dollars Net assets, 1/1/11 Net income, 2011 Dividends paid Net assets, 12/31/11 Net assets at current exchange rate, 12/31/11 Translation adjustment, 2011 (negative) Cumulative translation adjustment, 1/1/11 (negative) Cumulative translation adjustment, 12/31/11 (negative)
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Student Name: Class: Problem 10-35 Step One - Translation Worksheet Exchange Account £E Rate U.S. $ Sales (800,000) Cost of goods sold 420,000 Salary expense 74,000 Rent expense (adjusted) Other expenses 59,000 Gain on sale of fixed asset, 10/1/11 (30,000) Net income Retained earnings, 1/1/11 (133,000) Fm. Sch. One Net income Above Dividends paid 50,000 Retained earnings, 12/31/11
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Homework Excel templates - Student Name: Class: Problem...

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