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On January 1, 20X1. Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SF) 63,000. SunTime's December 31, 20X1. trial balance in SFr is as follows: Credit Debit SFr 7,900 23,500 5,200 27,500 102,000 Cash Accounts Receivable (net) Receivable from Popular Creek Inventory Plant & Equipment Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Sales Cost of Goods Sold Depreciation Expense Operating Expense Dividends Paid Total SFr 10,100 13,400 50,500 63,000 158,900 71,500 10,190 32,000 16,200 Ser295,900 SFr 295,900 Additional Information 1. The receivable from Popular Creek is denominated in Swiss francs Popular Creek's books show a $4,160 payable to SunTime 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 year's 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 the year of acquisition. The equipment was acqu 4. The dividends were declared and paid on Nove 5. Exchange rates were as follows: January 1 March 1 November 1 December 31 20x1 average Sir $ 1 =0.73 1 =0.74 1 =0.77 1=0.80 1 = 0.75 6. The Swiss franc is the functional currency. SUNTIME COMPANY Trial Balance Translation Schedule December 31, 20X1 U.S. Dollars Cash Accounts receivable (not) Receivable from Popular Crook Inventory Plant and equipment Cost of goods sold Depreciation expense Operating expense Dividends paid Total Total dobits Accumulated depreciation Accounts payable Bonds payable Common stock Sales Total Total credits

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