Ajax Company, a US company, has a subsidiary in Germany that has cash of 420,000, accounts receivable
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Ajax Company, a US company, has a subsidiary in Germany that has cash of €420,000, accounts receivable of €250,000, inventory of €1,300,000 that was obtained at an average exchange rate of $1.15/€, and plant and equipment of €22,500,000 that was obtained when the exchange rate was $1.20/€. The current exchange rate is $1.10/€. Calculate the dollar value on the balance sheet of all assets today using the temporal method.
$28,140,500
$26,917,000
$29,364,000
$29,687,500
$29,232,000
Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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