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How to get b? (in GBP) for the most recent year follow in part a. below: The relevant exchange rates for the $US value of
How to get b?
(in GBP) for the most recent year follow in part a. below: The relevant exchange rates for the \$US value of the British pound (GBP) are as follows: Instructions for both parts a. and b. below: - Use a negative sign with your answers to indicate a reduction (expenses, cash outflows, etc.). - Round answers to the nearest whole number. a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $ US (assume that the BOY Retained Earnings is $922,686 ). b. Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $798,494. (in GBP) for the most recent year follow in part a. below: The relevant exchange rates for the \$US value of the British pound (GBP) are as follows: Instructions for both parts a. and b. below: - Use a negative sign with your answers to indicate a reduction (expenses, cash outflows, etc.). - Round answers to the nearest whole number. a. Translate the subsidiary's income statement, statement of retained earnings, balance sheet, and statement of cash flows into $ US (assume that the BOY Retained Earnings is $922,686 ). b. Compute the ending Cumulative Translation Adjustment directly, assuming a BOY balance of $798,494Step by Step Solution
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