Canadian company) at Dec 31, 2019: Equipment (net) Goodwill Total Jan 1 Bal. Jan. 1 Amort....

 

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Canadian company) at Dec 31, 2019: Equipment (net) Goodwill Total Jan 1 Bal. Jan. 1 Amort. Bal. Dec. Rate Dollars 31 FCs Dec. 31 $2,000 FCs Average for year When ending inventory purchased $200 $3.938 $300 FCs $1,800 1,938 100 1,838 x1.22 1,967 during 2019: $3,638 x1.22 $2,196 FC1=$110 FC1 = $1.16 FC1=$1.19 The following exchange rates were in effect $4,163 FC1= $1.22 Assuming that S (Subsidiary) Company's functional currency is the foreign-currency (FC). What was the total exchange gain or (loss) arising on translation of acquisition differential amortization?. YMSA Inc. is in Cyprus, whose currency is the Euro (€), and is wholly owned by ORA Ltd. It is classified as a foreign operation (self-sustaining subsidiary). The summarized balance sheet for YMSA at December 31, 2018, was as follows: Monetary assets Non-monetary assets Monetary liabilities Non-monetary liabilities Shareholders' equity €100,000 200,000 €300,000 € 190,000 30,000 80,000 € 300,000 None of the non-monetary assets or liabilities are reported at market value. What is the exchange gain or loss in Canadian dollars for YMSA on January 1, 2019, if the exchange rate changes from €1 = $1.50 to €1 = $1.52 and this is the only event affecting YMSA for that day? Canadian company) at Dec 31, 2019: Equipment (net) Goodwill Total Jan 1 Bal. Jan. 1 Amort. Bal. Dec. Rate Dollars 31 FCs Dec. 31 $2,000 FCs Average for year When ending inventory purchased $200 $3.938 $300 FCs $1,800 1,938 100 1,838 x1.22 1,967 during 2019: $3,638 x1.22 $2,196 FC1=$110 FC1 = $1.16 FC1=$1.19 The following exchange rates were in effect $4,163 FC1= $1.22 Assuming that S (Subsidiary) Company's functional currency is the foreign-currency (FC). What was the total exchange gain or (loss) arising on translation of acquisition differential amortization?. YMSA Inc. is in Cyprus, whose currency is the Euro (€), and is wholly owned by ORA Ltd. It is classified as a foreign operation (self-sustaining subsidiary). The summarized balance sheet for YMSA at December 31, 2018, was as follows: Monetary assets Non-monetary assets Monetary liabilities Non-monetary liabilities Shareholders' equity €100,000 200,000 €300,000 € 190,000 30,000 80,000 € 300,000 None of the non-monetary assets or liabilities are reported at market value. What is the exchange gain or loss in Canadian dollars for YMSA on January 1, 2019, if the exchange rate changes from €1 = $1.50 to €1 = $1.52 and this is the only event affecting YMSA for that day?

Answer rating: 100% (QA)

To calculate the exchange gain or loss for YMSA on January 1 2019 we need to consider the impact of ... View the full answer