i need answer for b and c please
Sendelbach Corporation is a US. based organization with operations throughout the world One of its subsidaries is headquartered in Toronto. Although this wholly owned company operates primanly in Canada, it engages in some tranisactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denorninated in Mexican pesos (Ps) and a general ledger in Canadian dolfars (CS). As of December 31, 2020, the subsidiary is preparing financial statements in anticipation of consolidation with the US parent corporation. Both ledgers for the subsidiary are as follows: Additional Information - The Canadian subsidiary's functional'currency is the Canadian dollar, and Sendebach's reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate aceounting entides - The buiding and equipment used in the Mexican operation were acquired in 2010 when the currency exchange rate was 65024= P5 1. - Purchases of inventory were made evenly throughout the fiscal year, - Beginning inventory was acquired evenly throughout 2019 ; encing inventory was acquired evenly throughout 2020. - The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into C\$8.960 on December 31, 2020 - Currency exchange rates for 1 Ps applicable to the Mexican operation follow - The December 31, 2019, consolidated balance sheet reported a cumulative translation adjustment with a $57,950 credit (positive) balance. - The subsidiary's common stock was issued in 2007 when the exchange rate was $0.50=CS1. U.S.\$65,863. - The applicable currency exchange rates for 1CS for translation purposes are as follows: a. Remeasure the Mexican operation's account balances into Canadian dollars. Note Back into the beginning net monetary asset or liability position.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency. Canadian dollars. c. Translate the Canadian dollar functional currency financial statements into US. dollars so that Sendelbach can prepare consolidated financial statements. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or lifability position.) (Input all amounts as positive values.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the canadian subsidiary in its functional currency, Canadian dollars. c. Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements. (Round U.S. Dollar values to 2 decimal places. Amounts to be deducted and losses should be indicatnd with a minus sign.) Assets: Req A Sendelbach Corporation is a US. based organization with operations throughout the world One of its subsidaries is headquartered in Toronto. Although this wholly owned company operates primanly in Canada, it engages in some tranisactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denorninated in Mexican pesos (Ps) and a general ledger in Canadian dolfars (CS). As of December 31, 2020, the subsidiary is preparing financial statements in anticipation of consolidation with the US parent corporation. Both ledgers for the subsidiary are as follows: Additional Information - The Canadian subsidiary's functional'currency is the Canadian dollar, and Sendebach's reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate aceounting entides - The buiding and equipment used in the Mexican operation were acquired in 2010 when the currency exchange rate was 65024= P5 1. - Purchases of inventory were made evenly throughout the fiscal year, - Beginning inventory was acquired evenly throughout 2019 ; encing inventory was acquired evenly throughout 2020. - The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into C\$8.960 on December 31, 2020 - Currency exchange rates for 1 Ps applicable to the Mexican operation follow - The December 31, 2019, consolidated balance sheet reported a cumulative translation adjustment with a $57,950 credit (positive) balance. - The subsidiary's common stock was issued in 2007 when the exchange rate was $0.50=CS1. U.S.\$65,863. - The applicable currency exchange rates for 1CS for translation purposes are as follows: a. Remeasure the Mexican operation's account balances into Canadian dollars. Note Back into the beginning net monetary asset or liability position.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency. Canadian dollars. c. Translate the Canadian dollar functional currency financial statements into US. dollars so that Sendelbach can prepare consolidated financial statements. Remeasure the Mexican operation's account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or lifability position.) (Input all amounts as positive values.) b. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the canadian subsidiary in its functional currency, Canadian dollars. c. Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements. (Round U.S. Dollar values to 2 decimal places. Amounts to be deducted and losses should be indicatnd with a minus sign.) Assets: Req A
