On january 1 2011 veldon co a us corporation with the us

Reference no: EM13587326

On January 1, 2011, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (§). Malont engaged in the following transactions during 2011:

January 1, 2011	Issued common stock for §500,000
July 14, 2011	Sold a patent at a gain of §40,000
October 1, 2011	Paid dividends of §60,000

Malont's operating revenues and expenses for 2011 were §800,000 and §650,000, respectively. The appropriate exchange rates were as follows.

January 1, 2011	§1 = $2.50
July 14, 2011	§1 = $2.10
October 1, 2011	§1 = $2.60
December 31, 2011	§1 = $2.70
Average for 2011	§1 = $2.40

Required:
(Show the calculations for the translation adjustment for Malont and state whether it is a positive or a negative adjustment (round your answers to the nearest whole dollar).

Reference no: EM13587326

Questions Cloud

What are the factors that pilgrims officials should : pilgrim products inc. buys a controlling interest in the common stock of crestwood corporation. shortly after the

One angle of a triangle is 34 degrees the oppisite side is : one angle of a triangle is 34 degrees. the oppisite side is 20mm and a second side is 27mm. find all possible values

Given y 2 sin 2p x 1 find the amplitude the period and : given y 2 sin 2p x 1 find the amplitude the period and the phase shift.given y - 3 cos 4x - p 2 find the amplitude

Summarize the facts of the case-what was the crime who was : use the information on the companion web site or other informational resources to locate a recent example of a

On january 1 2011 veldon co a us corporation with the us : on january 1 2011 veldon co. a u.s. corporation with the u.s. dollar as its functional currency established malont co.

Balance the following reaction which occurs in acidic : balance the following reaction which occurs in acidic aqueous solution using the smallest possible integer coefficients

Pe-2 in january 2012 the management of sarah company : pe-2 in january 2012 the management of sarah company concludes that it has sufficient cash to purchase some short-term

Describe how knowledge of the ash borers ecology and : address one of the topics given below in a primary posting that consists of at least one paragraph addressing the

The jamesway corporation had the following situations on : the jamesway corporation had the following situations on december 2013.1.on december 20 2013 jamesway received a 5600

User Account

All Pages