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A Belgium subsidiary s beginning and ending trial balances appear below: Dr ( Cr ) January 1 December 3 1 Cash, receivables 1 , 5
A Belgium subsidiarys beginning and ending trial balances appear below:
Dr Cr
January December
Cash, receivables
Inventories
Plant & equipment, net
Liabilities
Capital stock
Retained earnings, beginning
Sales revenue
Cost of sales
Outofpocket selling & administrative expenses
Depreciation expense
Total
Exchange rates $ are:
Beginning of year $
Average for year
End of year
The subsidiary was acquired at the beginning of the year. Its sales, inventory purchases, and outofpocket selling and administrative expenses occurred evenly during the year. Equipment was purchased for when the exchange rate was $ Depreciation for the year includes related to the equipment purchased during the year. The ending inventory was purchased at the end of the year, and the beginning inventory was purchased at the end of the previous year.
If the subsidiarys functional currency is the euro, what is the translated plant & equipment, net balance at yearend?
Select one:
a $
b $
c $
d $
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