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marusya05 [52]
3 years ago
15

Charleston Corporation operates a branch operation in a foreign country. Although this branch operates in euros, the U.S. dollar

is its functional currency. Thus, a remeasurement is necessary to produce financial information for external reporting purposes. The branch began the year with 504,000 euros in cash and no other assets or liabilities. However, the branch immediately used 312,000 euros to acquire a warehouse. On May 1, it purchased inventory costing 127,000 euros for cash that it sold on July 1 for 182,000 euros cash. The branch transferred 26,000 euros to the parent on October 1 and recorded depreciation on the warehouse of 11,000 euros for the year. Currency exchange rates for 1 euro follow:
January 1 $1.47 = 1 euro
May 1 1.51 = 1
July 1 1.53 = 1
October 1 1.51 = 1
December 31 1.41 = 1
Average for the year 1.49 = 1
Required:
1. What is the remeasurement gain or loss to be recognized in the consolidated income statement?
Multiple Choice:
a. $18,060 gain.
b. $18,060 loss.
c. $190 loss.
d. $190 gain.

Business
1 answer:
Ilia_Sergeevich [38]3 years ago
7 0

Find the pictures in the attachment for the answer and explanation

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<h3>What is the F value?</h3>

In biology, the F value is a statistic used to estimate the variation level between different groups that can be explained by collected data.

The F value is used to test (either confirm or reject) a given explanation of data, which is known as the null hypothesis.

In conclusion, if the amount of variability due to within-group differences is equal to the amount of variability due to between-group differences, your F value will be equal to one (1).

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<h3>Income before taxes</h3>

Esquire Company journal entries

June 30, 2024

Debit Note receivable            $54,000

Credit Sales                              $54,000                  

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