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Bethel Company has a foreign wholly owned subsidiary, Home Brite Company. The parent usesthe current rate method to compute the cumulative translation adjustment. Required: Explain

Bethel Company has a foreign wholly owned subsidiary, Home Brite Company. The parent usesthe current rate method to compute the cumulative translation adjustment.

Required:

Explain how the use of the current rate method affects each of the following:

a. Reported sales and income of Home Brite.

b. Computation of translation gains and losses.

c. Reporting of translation gains and losses.

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