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Certain balance sheet accounts of a foreign subsidiary of Orchid Company have been stated in U.S. dollars as follows: Stated at Current Rates Historical Rates

Certain balance sheet accounts of a foreign subsidiary of Orchid Company have been stated in U.S. dollars as follows: Stated at Current Rates Historical Rates Accounts receivable, current $ 170,000 $ 190,000 Accounts receivable, long term 126,000 137,000 Land 63,000 67,000 Patents 92,000 97,000 $ 451,000 $ 491,000 This subsidiarys functional currency is the U.S. dollar. What total should Orchids balance sheet include for the preceding items?

Multiple Choice

  • $456,000.

  • $451,000.

  • $471,000.

  • $460,000.

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