Alliance Corporation (an Australian company) invests 1,000,000 marks in a foreign subsidiary on January 1, Year 1.
Question:
January 1, Year 1 …………………A$0.15
Average, Year 1 …………………. 0.17
December 31, 1997 ……………… 0.21
Required:
Determine the amount of translation adjustment that Alliance will report on its December 31, Year 1, balance sheet.
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