Question: Current Method 2-Jan-16 Temporal Method 2-Jan-16 Original Account Assets cash account receivable inventory Net plant Total in Euros 1,600,000 3,200,000 2,400,000 4,800,000 12,000,000 Exchang Us

 Current Method 2-Jan-16 Temporal Method 2-Jan-16 Original Account Assets cash account

Current Method 2-Jan-16 Temporal Method 2-Jan-16 Original Account Assets cash account receivable inventory Net plant Total in Euros 1,600,000 3,200,000 2,400,000 4,800,000 12,000,000 Exchang Us Exchang Us 1.1 $1,760,000 1.1 1.1 $3,520,000 1.1 1.1 A 1.218 1.1 B 1.276 1,760,000 3,520,000 2,923,200 6,124,800 E C Liabilities and Net Worth account payable short term debt long term debt common stock retained earning translation gain /loss Total 800,000 1,600,000 1,600,000 1,800,000 6,200,000 1.1 1.1 1.1 1.276 1.2437 $880,000 1.1 $1,760,000 1.1 $1,760,000 1.1 $2,296,800 1.276 $7,710,940 1.2437 D 880,000 1,760,000 1,760,000 2,296,800 F G E 12,000,000 The functional currency of Ganado's European subsidiary is the euro, and the reporting currency of its parent, Ganado Corporation, is the U.S. dollar. The spot rate is the market is changed from $1.20 to $1.10/ on January 2nd, 2016. Plant and equipment and long-term debt and common stock issued some time in the past when the exchange rate was $1.2760/ Inventory currently on hand was purchased or manufactured during the immediately prior quarter when the average exchange rate was $1.21808 Please fill in the blanks of A= B= D= E= F= G=

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!