Wahl Company's 20X5 consolidated financial statements include two wholly owned subsidiaries, Wahl Company of Australia (Wahl A)

Question:

Wahl Company's 20X5 consolidated include two wholly owned subsidiaries, Wahl Company of Australia (Wahl A) and Wahl Company of France (Wahl F). Functional currencies are the U.S. dollar for Wahl A and the European euro for Wahl F.

Required
a. What are the objectives of translating a foreign subsidiary's How are gains and losses arising from the translation or remeasurement of each subsidiary's measured and reported in Wahl's consolidated ASC 830 identifies several economic indicators to be considered both individually and collectively in determining the functional currency for a consolidated subsidiary. List three of these indicators.
d. What is used to incorporate each subsidiary's equipment cost, accumulated depreciation, and depreciation expense in Wahl's consolidated Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...