Part B: Translation of Foreign Currency Statements: 3. Borden, a corporation based in East Lansing, Michigan, starts a subsidiary operation in a foreign country on January 1, 2015 Borden investment in subsidiary The country's (in Kumquats) KO 10,000 currency is the Expended to acquire equipment KQ 3,000 kumquat (KQ). To Currency exchange (KQ 1): start this January 1, 2015 1.81 business, Borden April 1, 2015 1.62 invests 10,000 June 1, 2015 1.54 kumquats. Of this Weighted average - 2015 1.75 December 31, 2015 amount, it spends 1.68 3,000 immediately to acquire Subsidiary trial balance, December 31, 2015 Credits equipment. Later, Debits Cash KQ 8,000 on April 1, 2015, Accounts receivable 9,000 it also purchases Equipment 3,000 land. All KQ subsidiary Accumulated depreciation 600 operational Land 5,000 activities occur at an even rate Accounts payable 3,000 throughout the year. The Notes payable (due 2018) 5,000 currency exchange rates Common stock 10,000 for the kumquat Dividends paid (6/1/15) 4,000 for this year follows and trial Sales 25,000 balance: Salary expense 5,000 Depreciation expense 600 Miscellaneous expenses 9,000 KQ Totals KO 43,600 43,600