Refer to the data in Exercise E12 5 but now assume
Refer to the data in Exercise E12-5, but now assume that the exchange rates were as follows:


The receivable from Popular Creek Corporation is denominated in Swiss francs. Popular Creek’s books show a $3,650 payable to RoadTime. Assume the Swiss franc is the functional currency.
in Exercise E12-5




Required
a. Prepare a schedule translating the December 31, 20X1, trial balance from Swiss francs to dollars.
b. Compare the results of Exercise E12-5, in which the dollar is weakening against the Swiss franc during 20X1, with the results in this exercise (E12-9), in which the dollar is strengthening against the Swiss franc during20X1.
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