This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Chapter 12 - Multinational Accounting: Issues in Financial Reporting and Translation of Foreign Entity Statements
E12-7 Remeasurement
RoadTime Company
Trial Balance Remeasurement
December 31, 20X1
Swiss
U.S.
Francs
Rate
Dollars
Cash
SFr 7,000
0.80
$ 5,600
Accounts Receivable (net)
20,000
0.80
16,000
Receivables from Popular Creek
5,000
0.80
4,000
Inventory
25,000
0.77
19,250
Plant and Equipment
100,000
0.74
74,000
Cost of Goods Sold
70,000
(a)
52,000
Depreciation Expense
10,000
0.74
7,400
Operating Expense
30,000
0.75
22,500
Dividends Paid
15,000
0.77
11,550
Total
SFr 282,000
$212,300
Remeasurement Loss
1,000
Total Debits
$213,300
Accumulated Depreciation
SFr 10,000
0.74
$ 7,400
Accounts Payable
12,000
0.80
9,600
Bonds Payable
50,000
0.80
40,000
Common Stock
60,000
0.73
43,800
Sales
150,000
0.75
112,500
Total Credits
SFr 282,000
$213,300
Swiss
U.S.
(a) Cost of Goods Sold:
Francs
Rate
Dollars
Beginning Inventory
SFr -0-
0.75
$ -0-
Purchases
95,000
0.75
71,250
Goods Available for Sale
SFr 95,000
$ 71,250
Less: Ending Inventory
(25,000)
0.77
(19,250)
Cost of Goods Sold
SFr 70,000
$ 52,000
Trusted by Thousands of
Students
Here are what students say about us.
Resources
Company
Copyright ©2022 All rights reserved. | CoursePaper is not sponsored or endorsed by any college or university.