I have to translate them inro US money finding the exchange rate.

LALRCISES Exercise 1 (La Enterprises invest cign subsidiary m FC. The foreign subsidiing the year 20X's products willy owned foreigning of 20X5, Rivera al currency. Duriures and sell tal to form alance. At 20X5, and December 1. has declared at the foreign subthe foreign currency (ty. The for- ance in FC: ise 1 (LO 3, 4, 6) Translation of a trial balance. At the beginning of 20X5, Rivera rises invested 500,000 FC of capital to form a wholly owned foreign subsidiary. The for- sidiary manufactures and sells its products with the foreign currency (FC) being its nal currency. During the year 20X5, the foreign subsidiary reported earnings of 100,000 The foreign subsidiary has declared dividends of 20.000 FC each on both December 1, and December 1, 20X6. At the end of 20X6, the subsidiary has the following trial bal- Debit (Credit) Current Assets ... Equipment... Accumulated Depreciation Equipment . Land and Building Accumulated Depreciation-Building... Current Liabilities.. Noncurrent Notes Payable ....... Common Stock ........ Retained Earnings (net of dividends) ...... Sales Revenue Cost of Sales Operating Expenses .......... 140,000 FC 400,000 (80,000) 665,000 120,000) (180,000) (300,000) (500,000) (60,000) 1185,000) 90,000 30,000 Total............ Relevant exchange rates are as follows: Average for Year December 1 End of Year Beginning of Year 20x5 .................... 1 FC - $1.25 1 FC $1.25 I FC $1.34 FC FC $1.30 $1.32 FC = $1.33 FC - $1.29 FC - $1.34 FC - $1.28 1 20X6....... BIL A 30 Merge Insert De Format T e Aa- DEF Translated trial balance as of Decemeber 31, 20X6 Debit (Credit) Balance (in FC) Translated into US S Accounts Current Assets Equipment Accumulated Depreciation Equipment Land and Building Accumulated Depreciation Building Current Liabilities Noncurrent Notes Payable Common Stock Retained Earnings Sales revenue Cost of Sales Operating Expenses Subtotal Translation Adjustment (needed to balance) Total Exchange Rate 140,000 400,000 (80,000) 665,000 (20,000) (180,000) (300,000) (500,000) (60,000) (185,000) 90,000 30,000 n/a na n/a n/a n/a Must be 0 ime Beginning of the year exchange rate in 20X5 is the historical exchange rate Exercise 11-1 bercise 11-24