On January 1, 20X1, Kiner Company formed a foreign subsidiary that issued all of its currently outstanding common stock on that date. Selected accounts from the balance sheets, all of which are shown in local currency units, are as follows:

		December 31
		20X2			20X1
Accounts Receivable (net of allowance for uncollectible
accounts of 1,900 LCU on December 31, 20X2, and
1,700 LCU on December 31, 20X1)	LCU	39,000		LCU	34,000
Inventories, at cost		74,000			69,000
Property, Plant & Equipment (net of allowance for
accumulated depreciation of 31,900 LCU on December 31,
20X2, and 14,000 LCU on December 31, 20X1)		168,100			147,000
Long-Term Debt		90,000			110,000
Common Stock, authorized 24,000 shares, par value
10 LCU per share; issued and outstanding, 12,000 shares
on December 31, 20X2, and December 31, 20X1		120,000			120,000

Additional Information:

1. Exchange rates are as follows:

	LCU		$
January 1, 20X1July 31, 20X1	2.0	=	1
August 1, 20X1October 31, 20X1	1.8	=	1
November 1, 20X1June 30, 20X2	1.7	=	1
July 1, 20X2December 31, 20X2	1.5	=	1
Average monthly rate for 20X1	1.9	=	1
Average monthly rate for 20X2	1.6	=	1

2. An analysis of the accounts receivable balance is as follows:

			20X2					20X1
Accounts Receivable:
Balance at beginning of year		LCU	35,700
Sales (36,000 LCU per month in 20X2 and 31,000 LCU per month in 20X1)			432,000				LCU	372,000
Collections			(423,700	)				(335,100	)
Write-offs (May 20X2 and December 20X1)			(3,100	)				(1,200	)
Balance at end of year		LCU	40,900				LCU	35,700

		20X2				20X1
Allowance for Uncollectible Accounts:
Balance at beginning of year	LCU	1,700
Provision for uncollectible accounts		3,300			LCU	2,900
Write-offs (May 20X2 and December 20X1)		(3,100	)			(1,200	)
Balance at end of year	LCU	1,900			LCU	1,700

3. An analysis of inventories, for which the first-in, first-out inventory method is used, follows:

		20X2				20X1
Inventory at beginning of year	LCU	69,000
Purchases (June 20X2 and June 20X1)		350,000			LCU	390,000
Goods available for sale	LCU	419,000			LCU	390,000
Inventory at end of year		(74,000	)			(69,000	)
Cost of goods sold	LCU	345,000			LCU	321,000

4. On January 1, 20X1, Kiners foreign subsidiary purchased land for 21,000 LCU and plant and equipment for 140,000 LCU. On July 4, 20X2, additional equipment was purchased for 39,000 LCU. Plant and equipment is being depreciated on a straight-line basis over a 10-year period with no residual value. A full years depreciation is taken in the year of purchase.
5. On January 15, 20X1, 7 percent bonds with a face value of 110,000 LCU were issued. These bonds mature on January 15, 20X7, and the interest is paid semiannually on July 15 and January 15. The first interest payment was made on July 15, 20X1.

Required: Prepare a schedule remeasuring the selected accounts into U.S. dollars for December 31, 20X1, and December 31, 20X2, respectively, assuming the U.S. dollar is the functional currency for the foreign subsidiary. The schedule should be prepared using the following form: (Round your dollar amounts to nearest whole dollar.)

KINER COMPANY'S FOREIGN SUBSIDIARY Remeasurement of Selected Captions into United States Dollars December 31, 20X2, and December 31, 20X1 Balance in Indirect Exchange Remeasured into LCUS Rate U.S. Dollars December 31, 20X1: Accounts receivable (net) 34,000 Inventories, at cost 69,000 Property, plant, and equipment (net) 147,000 Long-term debt 110,000 Common stock 120,000 December 31, 20X2: Accounts Receivable (net) 39,000 Inventories, at cost 74,000 Property, plant, and equipment (net) 168, 100 Long-term debt 90,000 Common stock 120,000 KINER COMPANY'S FOREIGN SUBSIDIARY Remeasurement of Selected Captions into United States Dollars December 31, 20X2, and December 31, 20X1 Balance in Indirect Exchange Remeasured into LCUS Rate U.S. Dollars December 31, 20X1: Accounts receivable (net) 34,000 Inventories, at cost 69,000 Property, plant, and equipment (net) 147,000 Long-term debt 110,000 Common stock 120,000 December 31, 20X2: Accounts Receivable (net) 39,000 Inventories, at cost 74,000 Property, plant, and equipment (net) 168, 100 Long-term debt 90,000 Common stock 120,000