Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please I need it today Question 3 Translate the following Balance sheet of XYZ Ltd. Which is an Indian based multinational company doing business in
please I need it today
Question 3 Translate the following Balance sheet of XYZ Ltd. Which is an Indian based multinational company doing business in UK using Current rate, Current/Non-current method, and monetary non-Monetary and temporal method and show the Cumulative translation Adjustment. You are required to prepare the Consolidated Balance Sheet under all methods. Assume the Current rate of exchange INR/GBP as on 31 December 2018 is 94.1041 and Historical exchange rate GBP/INR as on 19 January 2018 was 0.01063 and average rate is INR/GBP was at 86.2458 (6 Marks) Balance sheet of XYZ Ltd as on 31 December 2018. Assets Amount in GBP (Parent) Amount in INR cash at bank 7526 Deferred Tax assets 4500 5350 624658 373500 444050 716705 Receivables from debtors Derivative financial assets 8635 Licences Land 16000 26000 10500 78511 1328000 2158000 871500 6516413 Accrued interest Liabilities and Equity Payables to creditors 5456 5456 16521 452848 1371243 Accrued expenses 11000 913000 Capital lease due Share capital 45534 3779322 78511 6516413 B. Identify and explain which of the items given in the balance sheet created high impact for CTA. (2Marks) C. Advice the company regarding the steps to be taken by them to reduce the impact of such items on CTA in future. (2 Marks) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started