By A. Merge Center Conditional Format Cel Formatting Table Styles Dell Forma N44 A L M Consolidated 25 26 Prove the cumulative translation adjustment here 27 23 Dec 31, 2018 Dec 31, 2018 Translated Elimination Entries 29 US Ama British Foods British Foods Dr 30 Sales $ 400,000 250,000 31 Expenses using funds 100.000 80 000 32 Depreciation 100.000 20,000 33 Income from Subsidiary 34 Net Income 150.000 35 36 RE lan 1, 2018 5 700,000 300,000 37 Dividende 5.000 59000 2 RE Dec 31, 2018 400.000 39 40 $ 300.000 100,000 42 Receivables 200,000 150,000 43 Property 500,000 400,000 44 45 investment in BF 16 Total Arts 650,000 47 48 Payables 5 76,000 50,000 49 Common Stock 500,000 200.000 30 Translation Adjustment 51 Retained Earning: Dec 31 400.000 52 Total Liab and Equity 650,000 53 56 British foods was purchased on an 1, 2018 at book value when we were E 500.000 55 The cost was $750,000, as the exchange rate was $1.50 per 10 British pound sterling 56 On that date, British Foods had net monetary assets of E 80,000 57 The exchange rate on December 31, 2018 is $1.60 per 10 tish pound sterling, and the average rate 58 for the yew was $155 per 10 British pound Sterling The dividend was paidat $155 per 10 pound sterling 59 60 LL Merge & Center De Conditional Format Formatting as Table Styles Form H41 C 0 1 2. (25 pts) Below is the balance sheet of US Amalgamate and its subdir, Bihodu 2 The subsidiary is ownd 100% by US Amalgamated, and the Financials are in tish pound sterling British Foods was purchased lauary 1, 2018 Because of light control of the subsidiary, the create methods for translation You are to translate the subdiary below, then record on USAmalgamated's books the profit and dividends. You are to show the elimination entries and considered tatements Lastly, you must prove the cumulative trustinment Record the profit and dividends on the books of Amalgamate here Prove the cumulative translation adtment here! Elimination Entries D OF Consolidated Sales Expenses using funds Depreciation Income from Subsidiary Net Income Dec 31, 2018 Dec 31, 2015 Translated US Amalga British Foods British Foods $ 400,000 250,000 $375.000 100,000 0.000 120,000 100,000 20,000 30 000 150.000 200.000 150,000 225,000 150,000 $ RE Jan 1, 2018 Dividends RE Dec 31, 2018 700,000 5.000 895,000 300,000 50.000 400.000 450,000 75,000 600,000 80,000 600,000 Problem 1 Problem 2 Problem 3 Probleme + By A. Merge Center Conditional Format Cel Formatting Table Styles Dell Forma N44 A L M Consolidated 25 26 Prove the cumulative translation adjustment here 27 23 Dec 31, 2018 Dec 31, 2018 Translated Elimination Entries 29 US Ama British Foods British Foods Dr 30 Sales $ 400,000 250,000 31 Expenses using funds 100.000 80 000 32 Depreciation 100.000 20,000 33 Income from Subsidiary 34 Net Income 150.000 35 36 RE lan 1, 2018 5 700,000 300,000 37 Dividende 5.000 59000 2 RE Dec 31, 2018 400.000 39 40 $ 300.000 100,000 42 Receivables 200,000 150,000 43 Property 500,000 400,000 44 45 investment in BF 16 Total Arts 650,000 47 48 Payables 5 76,000 50,000 49 Common Stock 500,000 200.000 30 Translation Adjustment 51 Retained Earning: Dec 31 400.000 52 Total Liab and Equity 650,000 53 56 British foods was purchased on an 1, 2018 at book value when we were E 500.000 55 The cost was $750,000, as the exchange rate was $1.50 per 10 British pound sterling 56 On that date, British Foods had net monetary assets of E 80,000 57 The exchange rate on December 31, 2018 is $1.60 per 10 tish pound sterling, and the average rate 58 for the yew was $155 per 10 British pound Sterling The dividend was paidat $155 per 10 pound sterling 59 60 LL Merge & Center De Conditional Format Formatting as Table Styles Form H41 C 0 1 2. (25 pts) Below is the balance sheet of US Amalgamate and its subdir, Bihodu 2 The subsidiary is ownd 100% by US Amalgamated, and the Financials are in tish pound sterling British Foods was purchased lauary 1, 2018 Because of light control of the subsidiary, the create methods for translation You are to translate the subdiary below, then record on USAmalgamated's books the profit and dividends. You are to show the elimination entries and considered tatements Lastly, you must prove the cumulative trustinment Record the profit and dividends on the books of Amalgamate here Prove the cumulative translation adtment here! Elimination Entries D OF Consolidated Sales Expenses using funds Depreciation Income from Subsidiary Net Income Dec 31, 2018 Dec 31, 2015 Translated US Amalga British Foods British Foods $ 400,000 250,000 $375.000 100,000 0.000 120,000 100,000 20,000 30 000 150.000 200.000 150,000 225,000 150,000 $ RE Jan 1, 2018 Dividends RE Dec 31, 2018 700,000 5.000 895,000 300,000 50.000 400.000 450,000 75,000 600,000 80,000 600,000 Problem 1 Problem 2 Problem 3 Probleme +