Business, 31.05.2020 04:58 jayjay5246

On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 80,000. SunTime’s December 31, 20X1, trial balance in SFr is as follows:Part 1. Prepare a schedule translating (current rate method) the December 31, 20X1, trial balance from Swiss francs to dollars.

Answers: 1

Show answers

Answers

On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 80,000. SunTime’s December 31, 20X1, trial balance in SFr is as follows:

Then intended files that supposed to be here are added in the attachments below:

Part 1. Prepare a schedule translating (current rate method) the December 31, 20X1, trial balance from Swiss francs to dollars.

Explanation:

We are tasked to Prepare a schedule translating (current rate method) the December 31, 20X1, trial balance from Swiss francs to dollars.

Schedule remeasuring Swiss francs to dollars

Trial Balance Translation Schedule

December 31, 20X1

Sfr Exchange Rate U.S dollar

Cash $7,200 0.73 $5,256

Accounts $25,000 0.73 $18,250

receivable (net)

Receivable from $6,300 0.73 $4,599

Creek

Inventory $26,000 0.73 $18,980

Plant & equipment $110,000 0.73 $80,300

Cost of good sold $71,500 0.75 $53,625

Depreciation expense $10,100 0.75 $7,575

Operating expense $35,000 0.75 $26,250

Dividends paid $16,400 0.74 $12,136

Total: $307,500 $226,971

$Accumulated - \ translation \\other \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ adjustment\\Comprehensive \\ loss$ (233,031 - 226,971) $6060

TOTAL DEBITS $233,031

Accumulated $10,100 0.73 $7,373

Depreciation

Account $13,600 0.73 $9,928

Payable

Bond $51,000 0.73 $37,230

Payable

Common stock $78,000 0.80 $62,400

Sales $154,800 0.75 $116,100

Total: $307,500 $233,031

No entry necessary $ -

TOTAL CREDITS $233,031

On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerla

Answer from: Quest

answer; operating revenues;

Answer from: Quest

the answers are

a, b, c, & e.

Another question on Business

Business, 22.06.2019 01:30

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:

Answers: 3

Answer

Business, 22.06.2019 10:10

At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:

Answers: 1

Answer

Business, 22.06.2019 13:10

bradford, inc., expects to sell 9,000 ceramic vases for $21 each. direct materials costs are $3, direct manufacturing labor is $12, and manufacturing overhead is $3 per vase. the following inventory levels apply to 2019: beginning inventory ending inventory direct materials 3,000 units 3,000 units work-in-process inventory 0 units 0 units finished goods inventory 300 units 500 units what are the 2019 budgeted production costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively?

Answers: 2

Answer

Business, 22.06.2019 16:40

Job applications give employers uniform information for all employees,making it easier to

Answers: 1

Answer

You know the right answer?

On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerla...

Questions