Chapter 10-12 - CHAPTER 10 TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS Answers to Problems 31(45 minutes(Translation and remeasurement of

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 10 TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS Answers to Problems 31. (45 minutes) (Translation and remeasurement of foreign subsidiary trial balance) a. Translation of Subsidiary Trial Balance Debits Credits Cash…………………………………. 8,000 KQ x 1.62 $12,960 Accounts Receivable……………. . 9,000 KQ x 1.62 14,580 Equipment…………………………. . 3,000 KQ x 1.62 4,860 Accumulated Depreciation……… 600 KQ x 1.62 $ 972 Land………………………………… 5,000 KQ x 1.62 8,100 Accounts Payable………………… 3,000 KQ x 1.62 4,860 Notes Payable……………………. . 5,000 KQ x 1.62 8,100 Common Stock…………………… 10,000 KQ x 1.71 17,100 Dividends Paid……………………. 4,000 KQ x 1.66 6,640 Sales………………………………… 25,000 KQ x 1.64 41,000 Salary Expense…………………… 5,000 KQ x 1.64 8,200 Depreciation Expense…………… 600 KQ x 1.64 984 Miscellaneous Expense…………. 9,000 KQ x 1.64
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/08/2012 for the course ACCOUNTING 559 taught by Professor Keating during the Spring '07 term at DeVry Addison.

Page1 / 2

Chapter 10-12 - CHAPTER 10 TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS Answers to Problems 31(45 minutes(Translation and remeasurement of

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online