Subject : international Accounting

Translation of Foreign Currency Financial Statements

Question One: (7 Points) The following is the balance sheet of Donar Company at Dec. 31/ 2019 in US$: $ Cash 20,000 Acc Receivable 30,000 Inventory 40,000 Plant Assets 50,000 Total Assets 140,000 Current Liabilities 35,000 Long-Term Debt 45,000 Common Stock 60,000 Total Liabilities & Owners' Equity 140,000 Additional Information: 1 - Exchange rate at Dec. 31, 2019 (Current Rate) $ 1 =LE 18 2 - Exchange rate at Jan. 1, 2019 (Historical Rate) $ 1 =LE 17.6 Required: Translate the balance sheet at Dec. 31, 2019 at: A - Current / Noncurrent Method. B - Monetary / Nonmonetary Method