9:26 Done Chapter 10 Worksheet ADVANCED ACCOUNTING .5G WORKSHEET #3 - DUE TUESDAY, May 3, 2022 BEFORE 11:59 PM On July 15, 2017, Fishing World paid 4 million Canadian dollars (CAD) to purchased 100% of the common stock of Wilderness Fishing, a Canadian firm. The common stock of Wilderness was on the Wilderness books at 3 million CAD on July 15, 2017. Wilderness Fishing continued to operate as a separate company. Wilderness Fishing's functional currency is the Canadian dollars (CAD) On November 1, 2020, Wilderness purchased a building at a cost of 1,000,000 CAD On June 5, 2021, Wilderness purchased land at a cost of 200,000 CAD. During 2022, Wilderness declared a cash dividend on June 1, 2022 and paid the dividend dividend on July 1, 2022. The dividend was 75,000 CAD On August 10, 2022, Wilderness sold equipment at a loss of 50,000 CAD Other information: December 31, 2021 USD RE was $205,000 Dec 31, 2021 Translation Bal 205,200 positive July 15, 2017 0.7000 November 1, 2020 0.7500 June 5, 2021 0.8100 January 1, 2022 0.7700 June 1, 2022 0.7752 July 1, 2022 0.7820 August 10, 2022 0.7880 December 31, 2022 0.7900 Weighted Ave. 2022 0.7790 REQUIRED: 1) Prepare the conversion to U.S. Dollars at December 31, 2022. 2) Prepare the Computation of Translation Adjustment to determine the 2022 translation change.