Sales to Canadian Customer (c$)10,00,000Exchange rate ($/c$)0.73Sales to Italian Customer Euro1,00,00,000Exchange rate ($/Euro)1.17Sales to CanadianAmount ( $)Sale Price * Exchange rate7,30,0001000000*0.73Sales to Italian Customer Euro1,17,00,000Sale Price * Exchange rate10000000*1.17Total Sales 20201,24,30,000

Answer b )

Calculation BasisAmount (Mex$)Calculation BasisAmount (Mex$)Purchase from Mexician (Mex$)30,00,00030,00,000Purchase from Hingkong (HK$)40,00,00040,00,000Exchange rate ($/Mex$)0.0550Exchange rate ($/HK$)0.1390Paid ( Mex$)27,00,000Paid ( hk$)34,00,000Exchange rate ($/Mex$)0.0582Exchange rate ($/HK$)0.1330Unpaid3,00,000Unpaid6,00,000Exchange rate ($/Mex$)0.0588Exchange rate ($/HK$)0.1310Sold ( Mex$)28,00,000Sold ( HK$)36,00,000Closing hehggfddghjjnhgffgghhh

1:09 10 . . . bab isslaball clarks's JAWWAL boox - Final Exam . . . O PROBLEM ONE (15 Points) Costsave Corporation, a U.S. company, acquired Denner, a discount supermarket chain in Switzerland, on January 1, 2020. Denner is a subsidiary of Costsave, and its results are consolidated with those of Costsave in Costsave's financial statements. Denner's trial balances for January 1 and December 31, 2020, in Swiss francs (CHF) appear below. Dr (Cr) (in thousands) December 31 January 1 Cash and receivables . . . CHF 30,000 CHF 25,000 Inventories . . 55,000 60,000 Plant and equipment, net. . 175,000 150,000 Accounts and notes payable (120,000) (125,000) Common stock. . . . . . . . (30,000) (30,000) Retained earnings, January 1. (80,000) (80,000) Dividends . . .. 20,000 Sales. . . . . . (500,000) Cost of sales. . . . . . 375,000 Operating expenses . 75,000 Totals . . . CHF CHF Additional information: 1. Included in operating expenses is depreciation expense of CHF5,000. 2. Plant and equipment of CHF30,000 was purchased for cash during 2020, when the exchange rate was $1.04. Depreciation of CHF2,000 was taken on this purchase during 2020. 3. The ending inventory was purchased during the month of December. 4. Revenues, purchases, and operating expenses other than depreciation occurred evenly during the year. 5. Dividends were declared on December 31, 2020. 6. Exchange rates for 2020 were as follows ($/CHF): January 1, 2020 . . . .. . . . . $1.03 Average for 2020 . .. 1.06 Average for December 2020 . . . 1.08 December 31, 2020 . . . 1.09 It is now December 31, 2020, and Denner's accounts must be converted to U.S. dollars in preparation for consolidation. Required 1. Denner's functional currency is the U.S. dollar. Prepare Denner's remeasured December 31, 2020 trial balance, and a schedule showing the computation of the remeasurement gain or loss for 2020. 2. Denner's functional currency is the Swiss franc. Prepare Denner's translated December 31, 2020 trial balance, and a schedule showing the computation of the translation gain or loss for 2020. O D