That us parent company abc has a subsidiary xyz in outer

Assignment Help Financial Accounting
Reference no: EM13370429

That US parent company ABC has a subsidiary XYZ in Outer Mongolia. XYZ's total assets are as follows in Mongolian marks:

•cash and receivables 500,000
•fixed assets (net) 900,000
•inventory 500,000

The relevant exchange rates are:
•OMM 1.5500 exchange rate when the fixed assets were acquired
•OMM 1.6800 closing rate on the balance sheet date
•OMM 1.6600 average exchange rate when ending inventory was acquired
•OMM 1.6300 average exchange rate for the period

Evaluate what is the total value of assets if the functional currency is the Outer Mongolian mark?

a. $1,130,952
b. $1,175,883
c. $1,179,469
d. $1,185,012 

Reference no: EM13370429

Questions Cloud

The first chance casino has gambling facilities a bar a : the first chance casino has gambling facilities a bar a hotel and a restaurant. all employees are allowed to get food
Five years ago lacey kaylee and doug organized a software : five years ago lacey kaylee and doug organized a software corporation dlk which prepares and sells online meetings
Stacey has a small salon that she has run for a last few : stacey has a small salon that she has run for a last few years as a sole proprietorship. the proprietorship uses cash
It relates to income effects of receivables : it relates to income effects of receivables transactions.sandburg company needs additional cash for its business.
That us parent company abc has a subsidiary xyz in outer : that us parent company abc has a subsidiary xyz in outer mongolia. xyzs total assets are as follows in mongolian
Textbook kieso intermediate accounting 14th : textbook kieso intermediate accounting 14th edition.conference posting read pages 1045 - 1048 chapter 17review your sec
1dividend changes can be used by management as a credible : 1.dividend changes can be used by management as a credible communication tool to signal investors about future earnings
The brisbane manufacturing company gives a single model of : the brisbane manufacturing company gives a single model of a cd player. each player is sold for 202 with a resulting
The towson manufacturing corporation applies overhead on : the towson manufacturing corporation applies overhead on the basis of machine hours. the subsequent divisional

Reviews

Write a Review

Financial Accounting Questions & Answers

  What are requirements for like-kind exchange treatment

What are requirements for like-kind exchange treatment for realty? Personalty? Of those provisions, which do you believe would be the two which are most often messed up, thereby nullifying all or part of the gain deferral?

  Compute the overhead rate for the current year

Actual materials used during the year were $5,500,000,actual direct labor cost was $3,500,000, and actual overhead was $9,000,000. Compute the overhead rate for the current year.

  Question on 1st january 2013 lauras living company has the

question on 1st january 2013 lauras living company has the subsequent defined benefit pension plan balances.projected

  How would the items above relating to research and develop

how would the items above relating to research and development activities be reported on the following financial statements?

  Recording adjusting entries and preparing financial

recording adjusting entries and preparing financial statements.record adjusting entries and prepare financial

  Should the company make or buy the valve

equipment cannot be used elsewhere in the Company, and it has no market value. However, the space occupied by the production of the value can be used by another production group that is currently leasing space for $55,000 per year.

  Illustrate what amount of the proceeds should be allocated

Mouser Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $192,000. Illustrate what am..

  Project proposal-ford motor company

Determining these calculations, the project is accepted or rejected, and the rationale is explained for the decision.

  Dividends received by the preferred stockholders in 2013

What are the dividends received by the preferred stockholders in 2013 - Stock dividends and stock splits have the following effects on retained earnings

  How course has affected you in professional development

Discuss how this course has affected you in your professional development as a student, and as a person, as well as how it has encouraged you on your academic path.

  Balance sheet and income statement using financial ratios

Determine the approximate amounts for the current year's balances in the form of a balance sheet and income statement using financial ratios.

  What is the relevant sales level

What is the relevant sales level to consider when deciding whether to introduce Crunch Stuff n' Stars and captin's Cereal is considering introducing a variation of its current breakfast cereal, Crunch Stuff.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd