Reference no: EM131588109
Problem - On January 1, 2013 Cleanup Corporation created Junkyard Corporation as a 100% owned Subsidiary in Switzerland with an initial investment of Swiss Francs (SFR) 140,000. Junkyards trail balance at 12/31/2013 is below.
Additional Facts:
1- Dividends were declared and paid on November 1st 2013
2- Purchases of inventory were made evenly during the year. The last inventory purchase was on November 1st 2013
3- Equipment was purchased on March 1st 2013
4- Exchange Rate for the year is as follows:
|
Exchange Rate
|
SFr
|
$
|
|
January 1st 2013
|
1
|
0.80
|
|
March 1st 2013
|
1
|
0.82
|
|
November 1st 2013
|
1
|
0.85
|
|
December 31st 2013
|
1
|
0.88
|
|
Average for the Year
|
1
|
0.84
|
Requirement:
1- Prepare a schedule translating the December 31, 2013 trail balance from Swiss Francs to US dollars and determine the exchange gain or loss.
2- Prepare Proof the translation gain and loss is correct for #1 above.
3- Prepare a schedule re-measuring the December 31, 2013 trail balance from Swiss Francs to US dollars and determine the exchange gain or loss.
Attachment:- Assignment.rar
|
What pricing rules has patel not followed
: Jay Patel is planning to open a pizza restaurant next month in Flora, Alabama. What pricing rules has Patel not followed
|
|
What is the bond coupon rate
: Suppose a five-year, $ 1,000 bond with annual coupons has a price of $ 899.79 and a yield to maturity of 5.8 . What is the bond's coupon rate?
|
|
Find the relationship between life y and cumulative hazard h
: To make hazard paper, calculate the positions corresponding to cumulative hazards of 1, 2, 5, 10, 20, 50, 100, 200, and 500% on the cumulative hazard scale.
|
|
What two strategies could you use to assist your learners
: What two strategies could you use to assist your learners/trainees with this protocol of learning based on your two noted areas?
|
|
Prepare proof the translation gain and loss
: Prepare a schedule re-measuring the December 31, 2013 trail balance from Swiss Francs to US dollars and determine the exchange gain or loss
|
|
Management has developed new operating plan
: Pacific Packaging's ROE last year was only 6%; but its management has developed a new operating plan that calls for a debt-to-capital ratio of 60%,
|
|
What happens when the process is compromised
: What is the process of memory from perception to retrieval? What happens when the process is compromised?
|
|
Calculate the current ratio and the profit margin for ford
: Financial analysis of a publicly-held company. We will use Ford's latest consolidated and segment financial statements (form 10K) as filed with the SEC.
|
|
Require an effective annual interest rate
: If you require an "effective" annual interest rate (not a nominal rate) of 9.74%, how much should you be willing to pay for the bond?
|