Certain balance sheet accounts of a foreign subsidiary of Orchid Company have been stated in U.S. dollars as follows:     Stated at   Current Rates   Historical Rates Accounts receivable, current $ 155,000     $ 175,000   Accounts receivable, long term   108,000       115,000   Land   54,000       59,000   Patents   83,000       88,000     $ 400,000     $ 437,000     This subsidiary’s functional currency is the U.S. dollar. What total should Orchid’s balance sheet include for the preceding items?

Stiff Sails Corporation, a U.S. company, operates a 100%-owned British subsidiary, SeaBeW Corporation. The U.S. dollar is the functional currency of the subsidiary. Financial statements for the subsidiary for the fiscal year-end December 31, 2024, are as follows: Sales Cost of Goods Sold Beginning Inventory Purchases Cost of Goods Sold Depreciation B. Goods Available For Sale Less: Ending Inventory Selling and Admin. Expenses Income Taxes Net Income Current Assets Cash Accts. Rec. Inventories Required: A. SeaBeWe Corporation Income Statement 155,000 171,000 285,000 611,000 SeaBeWe Corporation Partial Balance Sheet 310,000 265,000 575,000 285,000 290,000 79,000 155,000 32,000 July 1, 2022 Jan. 1, 2024 June 30, 2024 Dec. 31, 2024 Average for 2024 1. Cost of Goods Sold. 2. Depreciation Expense. 3. Equipment. Other Information: 1. Equipment costing 340,000 pounds was acquired July 1, 2022, and 38,000 was acquired June 30, 2024. Depreciation for the period was as follows: Pounds 650,000…

Vogl Co. is a U.S. firm conducting a financial plan for the next year. It has no foreign, subsidiaries, but more than half of it sale are form exports. Its foreign cash inflows to be received from exporting and cash outflow to be paid for imported supplies over the next year are shown n the following table: Currency total inflow total outflow Canadian dollar (C$) C $32,000,000 C $ 2,000,000 New Zealand dollar (NZ$) NZ $ 5,000,000 NZ $1,000,000 Mexican peso (MXP) MXP 11,000,000 MXP 10,000,000 Singapore dollar (s$) S$ 4, 000,000 8000,000 The spot rate and one-year forward rates as of today are shown below: Currency spot rate one-year forward rate C$ $.90 .93 NZ$ .60 .59 MXP .18 .15 S$ .65 .64 Questions 1. Based on the information provided, determine Vogl’s net exposure to each foreign currency in dollars. 2. Assume that today’s spot rate is used as a forecast of the future spot rate one year from now. The New Zealand dollar, Mexican peso, and Singapore dollars are expected to move in…

Looking for help with these two questions.   1. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars.2. Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements.

A U.S. parent owns a subsidiary in France, the subsidiary's accounts are maintained in euros, and its functional currency is the U.S. dollar. During the year, the euro has weakened against the U.S. dollar (U.S.$/€ rate has declined).Which one of the subsidiary's transactions below increases the amount of remeasurement losses reported when the subsidiary's accounts are translated to U.S. dollars?Select one:A. Inventory purchasesB. Depreciation expenseC. Sale of equity securitiesD. Sales revenue   Plz answer fast without plagiarism.

7. A foreign subsidiary of the Bart Corporation has certain balance sheet accounts on December 31, 20X2. Information relating to these accounts in U.S. dollars is as follows: Restated at Current Rates Historical Rates Marketable (Available-for-Sale and Trading) securities $ 75,000 $ 85,000 Inventories, carried at average cost Refundable deposits Goodwill 600,000 25,000 55,000 $ 755,000 700,000 30,000 70,000 $ 885,000 What total should be included in Bart's balance sheet on December 31, 20X2, as a result of the preceding information? Foreign Currency is Functional Currency $780,000 $870,000 $755,000 $880,000 U.S. Dollar is Functional Currency $870,000 $755,000 $780,000 $880,000 x

On January 1, 2024, Trenten Systems, a U.S.-based company, purchased a controlling interest in Grant Management Consultants located in Zurich, Switzerland. The acquisition was treated as a purchase transaction. The 2024 financial statements stated in Swiss francs are given below. GRANT MANAGEMENT CONSULTANTS Comparative Balance Sheets January 1 and December 31, 2024 Direct exchange rates for Swiss franc are: Required: A. Translate the year-end balance sheet and income statement of foreign subsidiary using the current rate method of translation. B. Prepare a schedule to verify the translation adjustment. Cash and Receivables Net Property, Plant, and Equipment 40,000 37,000 60,000 92,000 30,000 32,000 20,000 20,000 10,000 40,000 60,000 92,000 Totals Accounts and Notes Payable Common Stock Retained Earnings Totals GRANT MANAGEMENT CONSULTANTS Consolidated Income and Retained Earnings Statement for the Year Ended December 31, 2024 Jan. 1 Dec. 31 20,000 55,000 Revenues 75,000 Operating…

A​ U.S.-based multinational company has two​ subsidiaries, one in Mexico​ (local currency, Mexican​peso, MP) and one in Japan​ (local currency,​ yen, ¥). Forecasts of business operations indicate the following​ short-term financing position for each subsidiary​ (in equivalent U.S.​ dollars): ​Mexico:$80 million excess cash to be invested​ (lent) ​Japan: $60 million funds to be raised​ (borrowed)                                                                Currency Item US​ $ MP ¥ Spot exchange rates   MP11.60​/US$ ​¥108.25​/US$ Forecast percentage change   −3.00% +1.50% Interest rates       Nominal       Euromarket 4.00%    6.20%    2.00% Domestic 3.75%    5.90%    2.15% Effective       Euromarket                                        Domestic                              Euromarket and the domestic​ market; then indicate where the funds should be invested and raised.…

Certain balance sheet accounts of a foreign subsidiary of Roman, Inc., on December 31, 2010, have been translated into Philippine peso as follows: Translated at Current Rates P240,000 P200,000 85,000 80,000 150,000 170,000 P475,000 P450,000 The subsidiary's functional currency is the currency of the country in which it is located. What total amount should be included in Roman's December 31, 2010 consolidated balance sheet for the above accounts? Note receivable, long term. Prepaid rent Patent P450,000 P455,000 P475,000 P495,000 Historical Rates