Identified as the functional currency of the subsidiary

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Reference no: EM13744931

Refer to Exercise 13.4. Using the same information, assume that the Brazilian real is identified as the functional currency of the subsidiary. Required: A. Re measure the account balances that are expressed in Swiss francs into Brazilian reels, Direct exchange rates for the real are: Real per Franc Beginning of current year 1.3940 End of current year 1.2899 Average for current year 1.3445 Dividend payment date 1.2438 B. Translate the re measured accounts that are now stated in Reals dollars using the current rate method. Direct exchange rates for the real are: Dollars per Real Beginning of current year $.4891 End of current year .4630 Average for current year .4751 Dividend payment date .4740

Reference no: EM13744931

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