miliion Translation and Remeasurement Gains and Losses Amcrest France...
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miliion Translation and Remeasurement Gains and Losses Amcrest France Sarl, located in Paris. France, is a financial subsidiary of Target Corporation, a U.S. company. A ported in euros. Assume that the following data relate to Amcrest's activities for 2020 (in millions). E7.5 U.S. company. Amcrest's accounts are re (15,000) 5,400 Transactions during 2020: 72,000 59,000 1,000 9,500 100 300 Dividends declared and paid . . Sales, inventory purchases, and cash operating expenses were reported evenly throughout the year. Exchange rates are as follows (S/): 1.24 1.20 1.45 1.21 1.25 End of 2020 .. Rate when assets related to depreciation and amortization were acquired . . . .. Rate when long-term interest borrowings occurred . .. Required a. Prepare a schedule to compute Amcrest's 2020 remeasurement gain or loss, assuming Amcrest's functional currency is the U.S. dollar. b. Prepare a schedule to compute Amcrest's 2020 translation gain or loss, assuming Amcrest's funce tional currency is the euro
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