Question
Are you as company owns an 80% interest in a company located on mars. Martian currency is called The Martian credit. During the year the
Are you as company owns an 80% interest in a company located on mars. Martian currency is called The Martian credit. During the year the parent company sold inventory that cost $24,000 to the subsidiary on account for $30,000 when the exchange rate was 0.5192. The subsidiary still held one half of the inventory and had not paid the parent company for the purchase at the end of the fiscal.. the unsettled account is the nominated in dollars. The exchange rate at the fiscal year and was 0.4994. How is the transaction gain a loss reported in the foreign entities financial statement
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