question 23 chapter 8 in fundamentals of advance accounting edition 7.

#23 At what amounts should the December 31 balances in inventory and accounts payable be translated into U.S. dollars using the current rate method? 23. The following accounts are denominated in rubles as of December 31, 2017. For reporting pur- poses, these accounts need to be stated in U.S. dollars. For each account, indicate the exchange rate that would be used to translate the ruble balance into U.S. dollars under the current rate method. Then, again for each account, indicate the exchange rate that would be used to remeasure the ruble balance to U.S. dollars using the temporal method. The company was started in 2012. The buildings were acquired in 2013 and the patents in 2015. Translation Remeasurement Accounts payable .... .... Accounts receivable ........... Accumulated depreciation-buildings ..... Advertising expense......... Amortization expense (patents) ... ..... Buildings ....... . .... . Cash ........ .... Common stock ............................. Depreciation expense .............. Dividends (10/1/17)..... Notes payable--due in 2020 ..... Patents (net) ........... Salary expense .......... Sales ........... Exchange rates for 1 ruble are as follows: 2012 1 ruble = $0.28 2013.. 1 = 0.26 2015 1 = 0.25 January 1, 2017.... 1 = 0.24 April 1, 2017 ............ 1 = 0.23 July 1, 2017... ............ 1 = 0.22 October 1, 2017............................ 1 = 0.20 December 31, 2017....... 1 = 0.16 1 = 0.19 Average for 2017.......... 24. On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company fou 1 laud fuir unhue. At the acquisition date