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What the total assets after adjusting for hyperinflation

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Question - Lebron James Company operates in a hyperinflationary economy. Its balance sheet at December 31, 2011, follows:

(PESOS)

Property, Plant and Equipment 1,800

Inventory 5,400

Cash 700

Share Capital (issued in 2007) 800

Retained Earnings 4,700

Noncurrent liabilities 1,000

Current Liabilities 1,400

The general price index had moved in this way:

December 31

2007 100

2008 130

2009 150

2010 240

2011 300

The Property, Plant and Equipment was purchased on December 31, 2009, and there is a six month's inventory held. The noncurrent liabilities were a loan raised on March 31, 2011. What the total assets after adjusting for hyperinflation?

Reference no: EM133169900

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