Translations and Reporting Issues
Question # 00047197
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Updated on: 02/07/2015 04:03 AM Due on: 02/07/2015
- What is the concept of current rate method of translation and temporal method of translation? How does balance sheet exposure differ under these two methods?
- The 2010 financial statement of Child Co. Inc (Mexico), a subsidiary of Parent Co. Inc (United States), reveals the following information:
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Beginning Inventory | Peso 100,000 |
Purchases | Peso 500,000 |
Ending Inventory | Peso 150,000 |
COGS | Peso 450,000 |
US dollar exchange rate for 1 Peso: | |
January 1, 2010 | $0.45 |
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Solution: Translations and Reporting Issues