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velikii [3]
3 years ago
8

A foreign subsidiary of the Bart Corporation has certain balance sheet accounts on December 31, 20X2. Information relating to th

ese accounts in U.S. dollars is as follows:_________.
Restated at Current Rates Historical Rates
-Marketable (AFS and Trading) securities $ 75,000 $ 85,000
-Inventories, carried at average cost 600,000 700,000
-Refundable deposits 25,000 30,000
-Goodwill 55,000 70,000
Total: $755,000 $885,000
What total should be included in Bart's balance sheet on December 31, 20X2, as a result of the preceding information?
Business
1 answer:
Lelechka [254]3 years ago
7 0

Answer:

$885,000

Explanation:

How you are going to report the assets depends on whether you want to use the current rate method or the temporal (historic) method. Under the temporal method, you should use the historical rates, therefore, the total amount reported on the balance sheet is $885,000. if you want to use the current rate method, you should report the assets at $755,000, but you must also report an unrealized loss = $885,000 - $755,000 = $130,000 in the cumulative translation adjustment account. The total amount reported will not change, only the way you report it will change.

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Answer:

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Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15 boties of grape wine is $390. Because of an incr
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Answer:

Answer explained below

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patriot [66]

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