On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 77,000. RoadTimes December 31, 20X1, trial balance in SFr is as follows:

Debit

Credit

Cash

SFr

8,800

Accounts Receivable (net)

24,000

Receivable from Popular Creek

6,900

Inventory

27,000

Plant & Equipment

109,000

Accumulated Depreciation

SFr

10,900

Accounts Payable

14,000

Bonds Payable

53,500

Common Stock

77,000

Sales

154,300

Cost of Goods Sold

73,000

Depreciation Expense

10,900

Operating Expense

33,500

Dividends Paid

16,600

Total

SFr

309,700

SFr

309,700

Additional Information
1.	The receivable from Popular Creek is denominated in Swiss francs. Its books show a $5,037 payable to RoadTime.
2.	Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1.
3.	Equipment is depreciated by the straight-line method with a 10-year life and no residual value. A full years depreciation is taken in the year of acquisition. The equipment was acquired on March 1.
4.	The dividends were declared and paid on November 1.
5.	Exchange rates were as follows:

SFr

$

January 1

1

=

0.80

March 1

1

=

0.77

November 1

1

=

0.74

December 31

1

=

0.73

20X1 average

1

=

0.75

6.	The U.S. dollar is the functional currency.

Required:

a.

Prepare a schedule remeasuring the December 31, 20X1, trial balance from Swiss francs to dollars. (If no adjustment is needed, select 'No entry necessary'.)

ROADTIME COMPANY
Trial Balance Remeasurement Schedule
December 31, 20X1
	U.S. Dollars
Cash
Accounts receivable (net)
Receivable from Popular Creek
Inventory
Plant and equipment
Cost of goods sold
Depreciation expense
Operating expense
Dividends paid
Total	0
Total debits	$0
Accumulated depreciation
Accounts payable
Bonds payable
Common stock
Sales
Total	$0
Total credits	$0