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Question 4 Not yet answered Marked out of 1.00 P Flag question Certain balance sheet accounts of a foreign subsidiary of the Tulip Company -

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Question 4 Not yet answered Marked out of 1.00 P Flag question Certain balance sheet accounts of a foreign subsidiary of the Tulip Company - a US-based parent had been translated into U.S. dollars as follows Translated to USD using Current Rato (closing) Historical (Actual Rate) Investment in Debt $ 800,000 $ 820,000 securities Unearned revenue $ 120,000 $ 124,000 Property, Plant and $ 220,000 $ 228,000 Equipment If a foreign currency is the functional currency of this subsidiary, what total should have been included in Tulip's balance sheet for the preceding items? Select one: O a. None of the answers is correct b. $1,152,000 O c. $1,140,000 d. $1,172,000 e. $1,160,000

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