Exercise 12.5 (Algo) Translation LO 12-4, 12.5 On January 1, 20X1. Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss trancs (SFr) 76,000. Sunflime's December 3t, 20X1, trial balance in SFr is as follows: Additional Information 1. The receivable from Popular Greek is denominated in Swiss francs. Popular Creek's books show a $4,880 payable to $ unTime. 2. Purchases of inventory goods are made evenly during the year hems in the ending inventory were purchased November 1 . 3. Equipment is depreciated by the straight tine method with a 10 year ife and no residual value. A fuli year's depreciation is taken in the year of acquisition. The equipment was acquired on March 1 4. The dividends were declared and paid on November 1 5. Exchange rates were as follows: 6. The Swiss franc is the functional currency. Bequired: Prepare e schedule translating the December 31,201, trial balance from 5 wiss francs to dollar Note if ne adfustment is needed, select We entry necessary. Exercise 12.5 (Algo) Translation LO 12-4, 12.5 On January 1, 20X1. Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss trancs (SFr) 76,000. Sunflime's December 3t, 20X1, trial balance in SFr is as follows: Additional Information 1. The receivable from Popular Greek is denominated in Swiss francs. Popular Creek's books show a $4,880 payable to $ unTime. 2. Purchases of inventory goods are made evenly during the year hems in the ending inventory were purchased November 1 . 3. Equipment is depreciated by the straight tine method with a 10 year ife and no residual value. A fuli year's depreciation is taken in the year of acquisition. The equipment was acquired on March 1 4. The dividends were declared and paid on November 1 5. Exchange rates were as follows: 6. The Swiss franc is the functional currency. Bequired: Prepare e schedule translating the December 31,201, trial balance from 5 wiss francs to dollar Note if ne adfustment is needed, select We entry necessary