Existing SubsidiaryTranslation (see related P7.2) Refer to the information in P7.2 and assume SuperValus functional...
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Existing SubsidiaryTranslation (see related P7.2) Refer to the information in P7.2 and assume SuperValus functional currency is the krona.
Exchange rates in 2019 were:
Translate SuperValus 2019 ending trial balance into U.S. Dollars. Include a schedule calculating the 2019 translation gain or loss, appearing in other comprehensive income tax 2019.
Dr (Cr) Account Balances December 31 January 1 Cash.................... Accounts receivable, net .. Plant and equipment, net .... Accounts payable......... Notes payable............ Capital stock........ Retained earnings, January Sales.... Depreciation expense... Other expenses .......... Totals ................... kr 240,000 360,000 2,000,000 (200,000) (600,000) (400,000) (1,160,000) (1,200,000) 320,000 640,000 kr 175,000 400,000 2,320,000 (535,000) (800,000) (400,000) (1,160,000) Date $/kr January 1, 2019.. Average for 2019...... December 31, 2019 $0.13 0.14 0.16
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