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Assume Sharp Co. a U.K. based subsidiary began operations on 1/1/18. On this date common stock of fair value 500,000 was issued in exchange for
Assume Sharp Co. a U.K. based subsidiary began operations on 1/1/18. On this date common stock of fair value 500,000 was issued in exchange for cash. Sharp Co.'s functional currency is GBP. Sharp Co.'s trial balance at December 31, 2018 is provided below.
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