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Relevant exchange rates for the Euro for 2020 were as follows: Jan 1- 1.37 Jun 30- 1.40 Oct. 31- 1.42 Dec. 31- 1.45 Average- 1.41

Relevant exchange rates for the Euro for 2020 were as follows: Jan 1- 1.37 Jun 30- 1.40
Oct. 31- 1.42 Dec. 31- 1.45 Average- 1.41
Prepare a balance sheet at December 31, 2020 in U.S dollars showing the translation. image text in transcribed
On January 1, 2020 Chard Inca US Company acquired 100% of the Knight Company located in Belgium Chard paid 30 milions (30.000.000 EU) which was equal to Knights book and for Kies balance sheet and 1, 2020 was as follows in EU Cash 20.000.000 Accounts payable 34.000.000 Accounts Receivable 35.000.000 Long debt 5.000.000 Plant and equipment net 15.000.000 Common stock 10.000.000 Ratinad earnings 20.000.000 Total Assets 70.000000 Total Liabilities wid Stock's Euty 70.000000 On December 31, 2020, Knightsberited the following trial balance for comodation (edit ces in per EU) Cash 30,000,000 Accounts receivable 33.000000 Plant and mental 13.000.000 Accounts payable (25.000.000 Long-term 15.000.000 Common stoc (10,000 000) Dividendeld June 30, 2020 3.000.000 129.000.000 195.000.000 20.000.000 June 30, 2020 6.000.000 Depreciation expense 2.100.000 Einary expense-Oaber 1.2020 1.000.000

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