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Assume that your company owns a subsidiary operating in Canada. The subsidiary maintains its books in the Canadian Dollar (CAD) as its functional currency. Following
Assume that your company owns a subsidiary operating in Canada. The subsidiary maintains its books in the Canadian Dollar (CAD) as its functional currency. Following are the subsidiary's financial statements (in CAD) for the most recent year: The relevant exchange rates ($:CAD) are as follows: Translate the subsidiary's income statement, statement of reunited earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $553.612). Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $(37, 237). Assume that your company owns a subsidiary operating in Canada. The subsidiary maintains its books in the Canadian Dollar (CAD) as its functional currency. Following are the subsidiary's financial statements (in CAD) for the most recent year: The relevant exchange rates ($:CAD) are as follows: Translate the subsidiary's income statement, statement of reunited earnings, balance sheet, and statement of cash flows into $US (assume that the BOY Retained Earnings is $553.612). Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $(37, 237)
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