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10- Suppose a Turkish company uses Euro as the functional currency in its financial reporting system. The currency translation differences in the balance sheet are
10- Suppose a Turkish company uses Euro as the functional currency in its financial reporting system. The currency translation differences in the balance sheet are as follows (in Euros): 31.12.2021 31.12.2022 100.000 60.000 The company uses the closing exchange rates at the end of the year for the balance sheet items. The exchange rates information is as follows: - 31.12.2021: 1 Euro = 10 TL - 31.12.2022: 1 Euro = 15 TL Using the above information you present the financial statements in TL and find the currency translation difference to be reported in the comprehensive income statement as of the 2022 year-end as....
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