On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of SFr 60,000. RoadTime's December 31, 20X1, trial balance in Swiss francs (SFr) is as follows:

1. The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a payable to RoadTime at \(\$ 4,000\).

2. Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1 .
3. Equipment is depreciated by the straight-line method with a 10 -year life and no residual value. A full year's depreciation is taken in the year of acquisition. The equipment was acquired on March 1 .
4. The dividends were declared and paid on November 1.
5. Exchange rates were as follows:

6. The Swiss franc is the functional currency.
Required Prepare a schedule translating the December 31, 20X1, trial balance from Swiss francs to dollars.

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Cash Accounts Receivable (net) Receivable from Popular Creek Inventory Plant and Equipment Accumulated Depreciation Accounts Payable Bonds Payable Debit SFr 7.000 20,000 Credit 5.000 25.000 100,000 SFr 10,000 12,000 50.000 Common Stock 60.000 Sales 150.000 Cost of Goods Sold 70.000 Depreciation Expense 10.000 Operating Expense 30.000 Dividends Paid 15,000 Total SFr 282.000 SFr 282,000