Please help me with question 2 and 3 Sendelbach Corporation is a U S based organization with operations throughout the world One of its subsidiaries is headquartered in Toronto Although this wholly owned company operates primarily in Canada, it engages in some transactions through a branch in Mexico Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (C$) As of December 31, 2017, the subsidiary is preparing financial statements in anticipation of consolidation with the U S parent corporation Both ledgers for the subsidiary are as follows Main OperationCanada Debit Credit Accounts payable C$ 15,805 Accumulated depreciation 30,000 Buildings and equipment C$ 170,000 Cash 29,000 Common stock 53,000 Cost of goods sold 206,000 Depreciation expense 7,200 Dividends, 4 1 17 22,000 Gain on sale of equipment, 6 1 17 5,300 Inventory 82,000 Notes payabledue in 2020 72,000 Receivables 71,000 Retained earnings, 1 1 17 138,590 Salary expense 26,000 Sales 315,000 Utility expense 9,300 Branch operation 7,195 Totals C$ 629,695 C$ 629,695 Branch OperationMexico Debit Credit Accounts payable Ps 46,300 Accumulated depreciation 18,800 Building and equipment Ps 43,000 Cash 60,500 Depreciation expense 2,300 Inventory (beginningincome statement) 26,000 Inventory (endingincome statement) 29,500 Inventory (endingbalance sheet) 29,500 Purchases 60,000 Receivables 24,000 Salary expense 9,300 Sales 127,000 Main office 33,000 Totals Ps 254,600 Ps 254,600 Additional Information The Canadian subsidiarys functional currency is the Canadian dollar, and Sendelbachs reporting currency is the U S dollar The Canadian and Mexican operations are not viewed as separate accounting entities The building and equipment used in the Mexican operation were acquired in 2007 when the currency exchange rate was C$0 22 Ps 1 Purchases of inventory were made evenly throughout the fiscal year Beginning inventory was acquired evenly throughout 2016 ending inventory was acquired evenly throughout 2017 The Main Office account on the Mexican records should be considered an equity account This balance was remeasured into C$7,195 on December 31, 2017 Currency exchange rates for 1 Ps applicable to the Mexican operation follow Weighted average, 2016 C$ 0 27 January 1, 2017 0 29 Weighted average rate for 2017 0 31 December 31, 2017 0 32 The December 31, 2016, consolidated balance sheet reported a cumulative translation adjustment with a $39,950 credit (positive) balance The subsidiarys common stock was issued in 2004 when the exchange rate was $0 48 C$1 The subsidiarys December 31, 2016, retained earnings balance was C$138,590, an amount that has been translated into U S $68,723 The applicable currency exchange rates for 1 C$ for translation purposes are as follows January 1, 2017 US$ 0 70 April 1, 2017 0 69 June 1, 2017 0 68 Weighted average rate for 2017 0 67 December 31, 2017 0 65 Remeasure the Mexican operations account balances into Canadian dollars (Note Back into the beginning net monetary asset or liability position ) Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars Translate the Canadian dollar functional currency financial statements into U S dollars so that Sendelbach can prepare consolidated financial statements Sendelbach Corporation is a U S based organization with operations throughout the world One of its subsidiaries is headquartered in Toronto Although this wholly owned company operates primarily in Canada, it engages in some transactions through a branch in Mexico Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (C$) As of December 31, 2017, the subsidiary is preparing financial statements in anticipation of consolidation with the U S parent corporation Both ledgers for the subsidiary are as follows Main OperationCanada Debit Credit Accounts payable C$ 15,805 Accumulated depreciation 30,000 Buildings and equipment C$ 170,000 Cash 29,000 Common stock 53,000 Cost of goods sold 206,000 Depreciation expense 7,200 Dividends, 4 1 17 22,000 Gain on sale of equipment, 6 1 17 5,300 Inventory 82,000 Notes payabledue in 2020 72,000 Receivables 71,000 Retained earnings, 1 1 17 138,590 Salary expense 26,000 Sales 315,000 Utility expense 9,300 Branch operation 7,195 Totals C$ 629,695 C$ 629,695 Branch OperationMexico Debit Credit Accounts payable Ps 46,300 Accumulated depreciation 18,800 Building and equipment Ps 43,000 Cash 60,500 Depreciation expense 2,300 Inventory (beginningincome statement) 26,000 Inventory (endingincome statement) 29,500 Inventory (endingbalance sheet) 29,500 Purchases 60,000 Receivables 24,000 Salary expense 9,300 Sales 127,000 Main office 33,000 Totals Ps 254,600 Ps 254,600 Additional Information The Canadian subsidiarys functional currency is the Canadian dollar, and Sendelbachs reporting currency is the U S dollar The Canadian and Mexican operations are not viewed as separate accounting entities The building and equipment used in the Mexican operation were acquired in 2007 when the currency exchange rate was C$0 22 Ps 1 Purchases of inventory were made evenly throughout the fiscal year Beginning inventory was acquired evenly throughout 2016 ending inventory was acquired evenly throughout 2017 The Main Office account on the Mexican records should be considered an equity account This balance was remeasured into C$7,195 on December 31, 2017 Currency exchange rates for 1 Ps applicable to the Mexican operation follow Weighted average, 2016 C$ 0 27 January 1, 2017 0 29 Weighted average rate for 2017 0 31 December 31, 2017 0 32 The December 31, 2016, consolidated balance sheet reported a cumulative translation adjustment with a $39,950 credit (positive) balance The subsidiarys common stock was issued in 2004 when the exchange rate was $0 48 C$1 The subsidiarys December 31, 2016, retained earnings balance was C$138,590, an amount that has been translated into U S $68,723 The applicable currency exchange rates for 1 C$ for translation purposes are as follows January 1, 2017 US$ 0 70 April 1, 2017 0 69 June 1, 2017 0 68 Weighted average rate for 2017 0 67 December 31, 2017 0 65 Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars Translate the Canadian dollar functional currency financial statements into U S dollars so that Sendelbach can prepare consolidated financial statements

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Please help me with question 2 and 3 Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered

Please help me with question 2 and 3

Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered in Toronto. Although this wholly owned company operates primarily in Canada, it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (C$). As of December 31, 2017, the subsidiary is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows:

Main OperationCanada
	Debit		Credit
Accounts payable			C$	15,805
Accumulated depreciation				30,000
Buildings and equipment	C$	170,000
Cash		29,000
Common stock				53,000
Cost of goods sold		206,000
Depreciation expense		7,200
Dividends, 4/1/17		22,000
Gain on sale of equipment, 6/1/17				5,300
Inventory		82,000
Notes payabledue in 2020				72,000
Receivables		71,000
Retained earnings, 1/1/17				138,590
Salary expense		26,000
Sales				315,000
Utility expense		9,300
Branch operation		7,195
Totals	C$	629,695	C$	629,695

Branch OperationMexico
	Debit		Credit
Accounts payable			Ps	46,300
Accumulated depreciation				18,800
Building and equipment	Ps	43,000
Cash		60,500
Depreciation expense		2,300
Inventory (beginningincome statement)		26,000
Inventory (endingincome statement)				29,500
Inventory (endingbalance sheet)		29,500
Purchases		60,000
Receivables		24,000
Salary expense		9,300
Sales				127,000
Main office				33,000
Totals	Ps	254,600	Ps	254,600

Additional Information

The Canadian subsidiarys functional currency is the Canadian dollar, and Sendelbachs reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate accounting entities.
The building and equipment used in the Mexican operation were acquired in 2007 when the currency exchange rate was C$0.22 = Ps 1.
Purchases of inventory were made evenly throughout the fiscal year.
Beginning inventory was acquired evenly throughout 2016; ending inventory was acquired evenly throughout 2017.
The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into C$7,195 on December 31, 2017.
Currency exchange rates for 1 Ps applicable to the Mexican operation follow:


Weighted average, 2016	C$	0.27
January 1, 2017		0.29
Weighted average rate for 2017		0.31
December 31, 2017		0.32

The December 31, 2016, consolidated balance sheet reported a cumulative translation adjustment with a $39,950 credit (positive) balance.
The subsidiarys common stock was issued in 2004 when the exchange rate was $0.48 = C$1.
The subsidiarys December 31, 2016, retained earnings balance was C$138,590, an amount that has been translated into U.S.$68,723.
The applicable currency exchange rates for 1 C$ for translation purposes are as follows:


January 1, 2017	US$	0.70
April 1, 2017		0.69
June 1, 2017		0.68
Weighted average rate for 2017		0.67
December 31, 2017		0.65

Remeasure the Mexican operations account balances into Canadian dollars. (Note: Back into the beginning net monetary asset or liability position.)
Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars.
Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements.

Main OperationCanada
	Debit		Credit
Accounts payable			C$	15,805
Accumulated depreciation				30,000
Buildings and equipment	C$	170,000
Cash		29,000
Common stock				53,000
Cost of goods sold		206,000
Depreciation expense		7,200
Dividends, 4/1/17		22,000
Gain on sale of equipment, 6/1/17				5,300
Inventory		82,000
Notes payabledue in 2020				72,000
Receivables		71,000
Retained earnings, 1/1/17				138,590
Salary expense		26,000
Sales				315,000
Utility expense		9,300
Branch operation		7,195
Totals	C$	629,695	C$	629,695

Branch OperationMexico
	Debit		Credit
Accounts payable			Ps	46,300
Accumulated depreciation				18,800
Building and equipment	Ps	43,000
Cash		60,500
Depreciation expense		2,300
Inventory (beginningincome statement)		26,000
Inventory (endingincome statement)				29,500
Inventory (endingbalance sheet)		29,500
Purchases		60,000
Receivables		24,000
Salary expense		9,300
Sales				127,000
Main office				33,000
Totals	Ps	254,600	Ps	254,600

Additional Information

The Canadian subsidiarys functional currency is the Canadian dollar, and Sendelbachs reporting currency is the U.S. dollar. The Canadian and Mexican operations are not viewed as separate accounting entities.
The building and equipment used in the Mexican operation were acquired in 2007 when the currency exchange rate was C$0.22 = Ps 1.
Purchases of inventory were made evenly throughout the fiscal year.
Beginning inventory was acquired evenly throughout 2016; ending inventory was acquired evenly throughout 2017.
The Main Office account on the Mexican records should be considered an equity account. This balance was remeasured into C$7,195 on December 31, 2017.
Currency exchange rates for 1 Ps applicable to the Mexican operation follow:


Weighted average, 2016	C$	0.27
January 1, 2017		0.29
Weighted average rate for 2017		0.31
December 31, 2017		0.32

The December 31, 2016, consolidated balance sheet reported a cumulative translation adjustment with a $39,950 credit (positive) balance.
The subsidiarys common stock was issued in 2004 when the exchange rate was $0.48 = C$1.
The subsidiarys December 31, 2016, retained earnings balance was C$138,590, an amount that has been translated into U.S.$68,723.
The applicable currency exchange rates for 1 C$ for translation purposes are as follows:


January 1, 2017	US$	0.70
April 1, 2017		0.69
June 1, 2017		0.68
Weighted average rate for 2017		0.67
December 31, 2017		0.65

Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars.
Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements.