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This problem is adapted from our Chapter 10 exercise on the temporal method. Specifically, I have made a change to the initial exchange rate on
This problem is adapted from our Chapter 10 exercise on the temporal method. Specifically, I have made a change to the initial exchange rate on the formation date of the subsidiary (from 0.50 to 0.52 ). Please update the worksheet accordingly following this change, ensuring to answer the specified blanks with clear labels. 1/1/2010: Subsidiary was formed; Ex. Rate was 0.50-0.52. 1/1/2015: Exchange rate was 0.60 4/1/2015: Property was purchased; Ex. Rate was 0.62 4/15/2015: All the long-term debt were incurred; Ex.. Rate was 0.63 . 10/1/2015: Dividends were declared; Ex. Rate was 0.67 12/31/2015: Exchange rate was 0.68 Avg. Rate for 2015: 0.64 Assumptions: Revenue and cost of goods sold oceurred uniformly throughout the year. Common Stock and APIC has remained constant since the establishment on 1/1/2010 Patent is fully amortized, thus not listed in the balance sheet. The patent was secured on 1/1/2012, When the Exchange Rate was 0.59. Temporal Method Blanks ( 5 ) and (6) should have the same number. How much is it? Numeric Response
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