Reference no: EM132970011
A foreign subsidiary of Decker Corporation has certain balance sheet accounts on December 31, 20x9.
Information relating to these accounts in Philippine pesos as follows:
Translated at Current Rates Historical Rates
Marketable securities at cost P 65,000 P 75,000
Inventories, at average cost 500,000 550,000
Patents 80,000 85,000
Totals P 645,000 P 710,000
Problem 1. What total amount should be included in Decker's December 31, 20x9 consolidated balance sheet for the above accounts if subsidiary's foreign operations operates independently in economic and financial matters (or not integral to the operations of the parent):
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