1) This subsidiary's functional currency is a foreign currency. What total should Orchid's balance sheet include for the preceding items?

a) $611,000 b) $616,000 c) $627,000 d) $619,000

2) This subsidiary's functional currency is the U.S. dollar. What total should Orchid's balance sheet include for the preceding items?

a) $619,000 b) $627,000 c) $616,000 d) $611,000

Certain balance sheet accounts of a foreign subsidiary of Orchid Company have been stated in U.S. dollars as follows: Accounts receivable, current Accounts receivable, long term Land Patents Stated at Current Historical Rates Rates $ 291,000 $ 311,000 146,000 154,000 73,000 76,000 101,000 106,000 $ 611,000 $ 647,000