The applicable exchange rates are as follows:

1 January 2009 = GHS1.4 = $1

31 December 2009 = GHS1.6 = $1

Average or 2009 = GHS1.5 = $1

You are required to translate the Branchs trial balance into the presentation currency of ABC, taking into consideration the additional information given in note (i-vi).

Question Five ABC Company is incorporated as a Ghanaian Company with head office in Accra. The presentation currency is GHS. It operates a branch in New York which operates as a foreign entity with high degree of autonomy. The New York branch's trial balance at 31 December 2009 is as follows: The following additional information is given: i. All the non-current assets were bought on 1 st January 2009. Depreciation is calculated at the rate of 10% per annum on cost. ii. The total cedi invoice received from Head Office in respect of goodstransferred was GHS14,500. iii. At 31 December 2009, the branch had an accrued expenses of $500. iv. At 31 December 2009 inventory in trade amounted to $44,286. v. The balance on the branch current account in the Head Office books stood atGHS114,800. This balance did not take cognizance of cash in transit of \$250transferred from New York to Accra on 30th December 2009. Accra receiveda credit of GHS400 on 2nd January 2010 in respect of this transfer. Question Five ABC Company is incorporated as a Ghanaian Company with head office in Accra. The presentation currency is GHS. It operates a branch in New York which operates as a foreign entity with high degree of autonomy. The New York branch's trial balance at 31 December 2009 is as follows: The following additional information is given: i. All the non-current assets were bought on 1 st January 2009. Depreciation is calculated at the rate of 10% per annum on cost. ii. The total cedi invoice received from Head Office in respect of goodstransferred was GHS14,500. iii. At 31 December 2009, the branch had an accrued expenses of $500. iv. At 31 December 2009 inventory in trade amounted to $44,286. v. The balance on the branch current account in the Head Office books stood atGHS114,800. This balance did not take cognizance of cash in transit of \$250transferred from New York to Accra on 30th December 2009. Accra receiveda credit of GHS400 on 2nd January 2010 in respect of this transfer