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Practice 8 - Ch 10 Foreign Currency Translation

# Practice 8 - Ch 10 Foreign Currency Translation - Ch 10...

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1 Ch 10: Foreign Currency Translation Four Practice Problems: 10-23, 10-24, 10-33, and 10-35 (translation only) Solutions: Problem 1: 10 – 23 . Determine Appropriate Exchange Rates under the Current Rate Method (Translation) and Temporal Method (Remeasurement ) (10 minutes) Translation Remeasurement Accounts payable \$.16 C \$.16 C Accounts receivable \$.16 C \$.16 C Accumulated depreciation \$.16 C \$.26 H Advertising expense \$.19 A \$.19 A Amortization expense \$.19 A \$.25 H Buildings \$.16 C \$.26 H Cash \$.16 C \$.16 C Common stock \$.28 H \$.28 H Depreciation expense \$.19 A \$.26 H Dividends paid (10/1) \$.20 H \$.20 H Notes payable \$.16 C \$.16 C Patents (net) \$.16 C \$.25 H Salary expense \$.19 A \$.19 A Sales \$.19 A \$.19 A * C = current rate, H = historical rate, A = average rate

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