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Calculate the land value for the balance sheet

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Question - Big Aussie Ltd acquired all of the shares of Utah Limited on 1 July 2035. Utah Ltd provides the following information (items in US$) for the year:

-Land 2,325,000

-No land was acquired during the year

The following exchange rates applied:

Start of the reporting period US$ 1.00 = AUD $1.70

End of reporting period US$ 1.00 = AUD $1.50

Average rate for year US$ 1.00 = AUD $1.60

Required - Calculate the Land value for the balance sheet translated into the presentation currency of AUD?

Reference no: EM133103806

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