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On January 1, 20X1, Popular Creek Corporation organized RoadTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 69,000. RoadTime's December 31, 20X1, trial balance in SFr is as follows:

	Debit		Credit
Cash	SFr	7,400
Accounts Receivable (net)		24,000
Receivable from Popular Creek		5,400
Inventory		30,000
Plant & Equipment		108,000
Accumulated Depreciation			SFr	11,400
Accounts Payable				13,400
Bonds Payable				54,500
Common Stock				69,000
Sales				161,200
Cost of Goods Sold		74,500
Depreciation Expense		11,400
Operating Expense		32,000
Dividends Paid		16,800
Total	SFr	309,500	SFr	309,500

Additional Information
1.	The receivable from Popular Creek is denominated in Swiss francs. Popular Creek's books show a $4,320 payable to RoadTime.
2.	Purchases of inventory goods are made evenly during the year. Items in the ending inventory were purchased November 1.
3.	Equipment is depreciated by the straight-line method with a 10-year life and no residual value. A full years depreciation is taken in the year of acquisition. The equipment was acquired on March 1.
4.	The dividends were declared and paid on November 1.
5.	Exchange rates were as follows:

	SFr		$
January 1	1	=	0.73
March 1	1	=	0.74
November 1	1	=	0.77
December 31	1	=	0.80
20X1 average	1	=	0.75

6.	The Swiss franc is the functional currency.

Required:

Prepare a schedule translating the December 31, 20X1, trial balance from Swiss francs to dollars. (If no adjustment is needed, select 'No entry necessary'.)

Answer is complete but not entirely correct ROADTIME COMPANY Trial Balance Translation Schedule December 31, 20x1 U.S. Dollars 5,550X Cash 18,000X Accounts receivable (net) 4,320V Receivable from Popular Creek 23,100X Inventory 79,920X Plant and equipment Cost of goods sold 55,875 8,550 Depreciation expense 24,000 Operating expense 12,936 Dividends paid 232,251 Total No entry necessary 232,251 Total debits 8,550X Accumulated depreciation 10,050X Accounts payable 40,875X Bonds payable Common stock 55,200X 120,900 Sales Total 235,575 Accumulated other comprehensive income Translation adjustment (3,324)X 232,251 Total credits

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