| Problem 11-8 |
| TOBAC, INC. - TRIAL BALANCE TRANSLATION - DECEMBER 31, 2017 |
| | | | BALANCE | EXCHG. | BALANCE |
| ACCOUNT | | | IN FC | RATE | IN DOLLARS |
| Cash | | | 3,087,385 | | 0 |
| Net Accounts Receivable | | | 12,000,000 | | 0 |
| Inventory | | | 8,000,000 | | 0 |
| Depreciable Assets | | | 34,000,000 | | 0 |
| Accumulated Depreciation | | | (12,300,000) | | 0 |
| Due to Balfour | | | (2,087,385) | | 0 |
| Other Liabilities | | | (3,700,000) | | 0 |
| Common Stock | | | (19,000,000) | | 0 |
| Paid-in Capital in Excess of Par | | | (8,480,000) | | 0 |
| Retained Earnings, 1/1/X7 | | | (7,520,000) |
| Sales | | | (40,000,000) | | 0 |
| Cost of Sales | | | 27,600,000 | | 0 |
| Depreciation Expense | | | 3,300,000 | | 0 |
| Int.Exp., Bal.Loan (accrued 12/31) | | | 118,154 | | 0 |
| Exchange Gain - Balfour Loan | | | (30,769) | | 0 |
| Other Expenses | | | 5,012,615 | | 0 |
| Cumulative Translation Adjustment |
| | | | 0 | | 0 |
| Use this space to translate Retained Earnings |
| | Balance on 7/1/X5 |
| | Trial Balance in $ | | | Eliminations & Adjustments | | | Consolidated | Consolidated |
| | Balfour | Tobac | | Dr. | | Cr. | I/S | B/S |
| Cash | 4,463,200 |
| Net Accounts Receivable | 15,350,000 |
| Inventory | 16,300,000 |
| Due from Tobac | 1,356,800 |
| Investment in Tobac | 23,712,363 |
| Depreciable Assets | 68,000,000 |
| Accumulated Depreciation | (42,000,000) |
| Due to Balfour |
| Other Liabilities | (27,000,000) |
| Common Stock | (35,000,000) |
| Paid-in Capital in Excess of Par | (2,000,000) |
| Retained Earnings.,1/1/X7 | (4,500,000) |
| Sales | (98,000,000) |
| Cost of Sales | 64,000,000 |
| Depreciation Expense | 8,076,800 |
| Interest Exp. on Balfour Loan |
| Exch. on Gain on Balfour Loan |
| Other Expenses | 10,000,000 |
| Interest Income | (76,800) |
| Subsidiary Income | (2,682,363) |
| Cumulative Translation Adjustment |
| Totals | 0 | 0 | | 0 | | 0 |
| Consolidated Net Income |
| Eliminations and Adjustments: |
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week_08_templates.xlsx
