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AutoSave ( Off) H 2 - Excel A Christopher Alan Ritch (caritch) CA X File Home Insert Page Layout Formulas Data Review View Help 9

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AutoSave ( Off) H 2 - Excel A Christopher Alan Ritch (caritch) CA X File Home Insert Page Layout Formulas Data Review View Help 9 Search Share Comments E25 X Y fx A B C D E F G H 1 The OUI Company is a French Subsidiary of an American Company, YES 2 3 Below is the financial statements for 2020 4 These statements are in Euros but following U.S. GAAP 5 Balance Sheet Income Statement 6 Cash 100,000 revenue 200,000 7 accounts rec 100,000 salary exp -40000 8 equipment 100,000 dep exp bldg -30000 9 a/d equip -30,000 dep exp equip -10,000 10 building 100,000 gain sale land 40000 11 a/d bldg -40000 12 net income 160,000 13 total assets 330,000 14 Other information: cd | DOLLAR EURO START RUNNING | TERMINATE + Ready + 140% Type here to search O mean X ENG 8:31 PM INTL 4/28/2020 FAutoSave ( Off) H 2 - Excel A Christopher Alan Ritch (caritch) CA X File Home Insert Page Layout Formulas Data Review View Help 9 Search Share Comments E25 X Y A B C D E F G H 10 building 100,000 gain sale land 40000 11 a/d bldg -40000 12 net income 160,000 13 total assets 330,000 14 Other information: 15 accounts pay 100000 when YES Company purchased OUI Company stock 1 euro = $1.25 16 when OUI Company purchased equipment 1 euro = $1.15 17 c/s 200000 when OUI company purchased building 1 euro = $1.20 18 r/e 30000 when OUI Company paid a 150,000 dividend 1 euro = $1.31 19 when OUI Company sold the land 1 euro = $1.22 20 On 12/31/2019 retained earnings in dollars $42000 21 Average exchange rate during 2020 1 euro = $1.27 22 spot rate 12/31/2020 1 euro = $1.24 23 REQUIRED: WHEN THE EURO IS THE FUNCTIONAL CURRENCY OF OUI COMPANY CONVERT THE STATEMENTS INTO DOLLARS cd | DOLLAR EURO START RUNNING TERMINATE + Ready + 140% Type here to search O me S O ENG 8:31 PM INTL 4/28/2020

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