ACT 506 Mod 08 Portfolio Template Option*****A++ Rated Tutorial Already***** Use as a Guide Paper*****
Instructions: One of HedgeCo's subsidiaries operates in a foreign country. The financial statements must be translated into U.S. dollars for financial reporting purposes. This entity has operations that are largely independent of HedgeCo (parent). Using the appropriate method, translate the financial statements into U.S. dollars. | |
Current Exchange Rates | 1.50 |
Historical Rates (Equity) | 0.75 |
Average Rate | 1.10 |
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BALANCE SHEET |
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12/31/13 | FC |
Assets | |
Cash | 6000.00 |
Accounts Receivable | 2000.00 |
Land | 10200.00 |
Building (net) | 30000.00 |
Accumulated Depreciation | -30000.00 |
Total Assets | 18200.00 |
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Liabilities |
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Accounts Payable | 100.00 |
Mortgage Payable | 10000.00 |
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Equity |
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Common Stock | 100.00 |
Retained Earnings | 8000.00 |
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Total Liabilities & Equity | 18200.00 |
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INCOME STATEMENT |
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Revenues | 50000.00 |
Operating Expenses (net depreciation) | -25000.00 |
Depreciation | -5000.00 |
Net Income | 20000.00 |
10 years ago
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