On January $1,20$X$1,$ Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an Initial Investment

cost of Swiss francs $($SFr$)75,000.$ SunTime's December $31,20$X$1,$ trlal balance In SFr is as follows:

Additional Information

The recelvable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $$5,440$ payable to SunTIme.

Purchases of Inventory goods are made evenly during the year. Items in the ending Inventory were purchased November $1.$

Equipment is depreclated by the straight$-$Ine method with a $10-$year life and no residual value. A full year's depreclation is taken in

the year of acqulsition. The equipment was acquired on March $1.$

The dividends were declared and pald on November $1.$

Exchange rates were as follows:

The Swiss franc is the functional currency.

Required:

Prepare a schedule translating the December $31,201,$ trial balance from Swiss francs to dollars.

Note: If no adjustment is needed, select $\text{'}$No entry necessary'.