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Translation Problems Sol

This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

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Adam Smith
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89 views2 pages

Translation Problems Sol

This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

Uploaded by

Adam Smith
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Sales 90,000 67.

5 6075000
COGS 80,000 67.5 5400000
Dep 1,500 67.5 101250
Other Exp 5,750 67.5 388125
Net Income 2,750 185,625
Dividends 0 0
Increase to R/E 2,750 185,625

Total Assets 21,750 67.6 1470300

Total Liab 11,500 67.6 777400


Ordinary Shares 5000 67.2 336000
Retained Earnings
Dec 31,2016 119,500
Increase to R/E 185,625
Dec 31,2017 305,125 305,125
Total Liab&SHE 1418525
CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2017
(Translated TA - Translated L&SHE) 51775 Credit
CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2016 50,000 Credit
Translation Adjustment for 2017 1,775 Credit
Net Income 15,000 12 180,000
Dividends 3,000 10 30000
Increase to R/E 12,000 150,000

Total Assets 146,000 10 1460000

Total Liab 45,000 10 450000


Ordinary Shares 60000 11 660000
Retained Earnings
Dec 31,2016 325,000
Increase to R/E 150,000
Dec 31,2017 475,000 475,000
Total Liab&SHE 1585000
CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2017
(Translated TA - Translated L&SHE) -125000 Debit

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