FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Tristan Narvaja, S.A. (C). Calculate Tristan Narvaja’s contribution to its parent’s translation gain or loss using the current rate method if the exchange rate on December 31 is $U12 = $1.00. Assume all peso accounts remain as they were at the beginning of the year.
Transcribed Image Text:Balance Sheet (thousands of pesos Uruguayo, $U)
Assets
Cash
Accounts receivable
Inventory
Net plant and
equipment
$U 60,000
120,000
120,000
240,000
$U
540,000
Liabilities & Net Worth
Current liabilities
Long-term debt
Capital stock
Retained
earnings
$U 30,000
90,000
300,000
120,000
$U
540,000
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