On January 1, 2008, T Systems, a U.S,-based company, purchased a controlling interest in G Company located in Paris, France

 

Transcribed Image Text:

Dollun per Eure $92 Druct enchunge rates for Earn are Jamury 1.2008 December 1. 200s Average for 2008 Disidend decluration and puyment date 76 80 Roqurod Translate the year-end balatnce shoct and income statement of the forcign subidiary using the current rate method of translation. Translation Euron Iacume Statemeat Rate US. Dollars Revenne Operating expenses (30,000) Net income 4500 Retained earnings /1 10,000 Dividends (15,000) Retained varnings 1231 Balance Sheet Cash and receivahles Net property, plant, egnipment 37,000 Total asets 92.00 Accusuts pavalle 32.000 Common stuck 20e Retained earnings 40,000 92.000 Cemulative traaslation djestment Total liah, & yuity 92,000 | || Dollun per Eure $92 Druct enchunge rates for Earn are Jamury 1.2008 December 1. 200s Average for 2008 Disidend decluration and puyment date 76 80 Roqurod Translate the year-end balatnce shoct and income statement of the forcign subidiary using the current rate method of translation. Translation Euron Iacume Statemeat Rate US. Dollars Revenne Operating expenses (30,000) Net income 4500 Retained earnings /1 10,000 Dividends (15,000) Retained varnings 1231 Balance Sheet Cash and receivahles Net property, plant, egnipment 37,000 Total asets 92.00 Accusuts pavalle 32.000 Common stuck 20e Retained earnings 40,000 92.000 Cemulative traaslation djestment Total liah, & yuity 92,000 | ||

Answer rating: 100% (QA)

Translation by using Current rate method Income Statement Revenue Operating Expenses ... View the full answer