Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows:

	Stated at
	Current Rates		Historical Rates
Accounts receivable−current	$	310,000			$	324,000
Accounts receivable−long term		150,000				167,000
Prepaid insurance		90,000				98,000
Goodwill		115,000				121,000
Totals	$	665,000			$	710,000

If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Crater’s balance sheet in U.S. dollars?

Answer rating: 100% (QA)

Identify the current and historical exchange rates The current exchange rate is the exchange rate at ... View the full answer