18. Lucy is a accountant at parent co.(parent), which has a subsidiary in a foreign...
70.2K
Verified Solution
Link Copied!
Question
Finance
18. Lucy is a accountant at parent co.(parent), which has a subsidiary in a foreign operation. Parent prescribed AUD 60,000for share capital on 15 July 2017. The function currency of parent is Euro.
Parent prepared its financial statement on 31 December 2017.
How would be Parent record its investment in the financial statements?
Euro
AUD
15 July
3
1
31 Dec
2
1.2
AUD 60,000
AUD 72,000
Euro 120,000
Euro 180,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
