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

cost of Swiss francs $($SFr$)60,000.$ SunTime's December $31,20$X$1,$ trlal balance in SFr Is as follows:

Additional Information

The recelvable from Popular Creek is denominated in Smiss francs. Popular Creek's books show a $$4,000$ payable to SunTIme.

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

Equlpment 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 acquisition. The equlpment was acqulred on March $1.$

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

Exchange rates were as follows:

The U$.$S$.$ dollar is the functional currency for the foreign subsidlary.

Required:

Prepare a schedule remeasuring the December $31,20$X$1,$ trlal balance from Swiss francs to dollars.

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