On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 60,000. SunTime's December 31, 20X1, trial balance in SFr is as follows:

	Debit				Credit
Cash	SFr	7,000
Accounts Receivable (net)		20,000
Receivable from Popular Creek		5,000
Inventory		25,000
Plant & Equipment		100,000
Accumulated Depreciation					SFr	10,000
Accounts Payable						12,000
Bonds Payable						50,000
Common Stock						60,000
Sales						150,000
Cost of Goods Sold		70,000
Depreciation Expense		10,000
Operating Expense		30,000
Dividends Paid		15,000
Total	SFr	282,000			SFr	282,000

Additional Information

1. The receivable from Popular Creek Corporation is denominated in Swiss francs. Popular Creeks books show a $3,650 payable to SunTime.
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 Swiss franc is the functional currency.

SUNTIME COMPANY
Trial Balance Translation Schedule
December 31, 20X1
	U.S. Dollars
Cash	$5,110selected answer correct
Accounts receivable (net)	14,600selected answer correct
Receivable from Popular Creek	3,650selected answer correct
Inventory	18,500selected answer incorrect
Plant and equipment	77,000selected answer incorrect
Cost of goods sold	52,750selected answer incorrect
Depreciation expense	7,700selected answer incorrect
Operating expense	22,500selected answer correct
Dividends paid	11,100selected answer correct
Total	$212,910
Accumulated other comprehensive income - Translation adjustmentselected answer correct	550selected answer incorrect
Total debits	$213,460
Accumulated depreciation	$7,700selected answer incorrect
Accounts payable	8,760selected answer correct
Bonds payable	36,500selected answer correct
Common stock	48,000selected answer correct
Sales	112,500selected answer correct
Total	$213,460
No entry necessaryselected answer correct	not attempted
Total credits	$213,460