Question
Ajax Manufacturing's German subsidiary has the following balance sheet: Cash, marketable securities Accounts receivable Inventory (at market. Fixed Assets Total assets SFr 250,000 1,000,000 2,700,000
Ajax Manufacturing's German subsidiary has the following balance sheet:
|
Cash, marketable securities Accounts receivable Inventory (at market. Fixed Assets Total assets |
SFr 250,000 1,000,000 2,700,000 5,100,000 SFr 9,050,000 |
Current liabilities Long-term debt Equity
Total liabilities plus equity |
SFr 750,000 3,400,000 4,900,000
SFr 9,050,000 |
Suppose the SFr appreciates from $0.70 to $0.76 during the period, under the current rate method (FASB 52), what is Ajax's translation gain (loss) for its equity?
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Stock Market Investing For Beginners
Authors: Andrew P.C.
1st Edition
1549522132, 978-1549522130
