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QUESTION 1 At December 31, 2015. Company Foreign which is a subsidiary of Company USA...

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QUESTION 1 At December 31, 2015. Company Foreign which is a subsidiary of Company USA had the following pre closing trial balance in the local currency unit (LC) Account LCU Amount Current Assets 900.000 Property. Plant, and Equip (Acquired 1/100 2.200,000 Liabilities 700,000 Common Stock (10 LCD part 1,000,000 Paid in Capital 900,000 Retained Earnings (1/1) 400.000 Revenues 600.000 Expenses 460,000 Dividends Distibuted 11/15/2015) 30,000 Currency exchange rates (Spot rates) were as follows: January 1, 2002 50.601 ICU January 1, 2008 50.64 - 1LCU October 1, 2015 30,79 - ILCU November 15, 2015 $0.75 -1 LCU December 31, 2015 $0.70-1 CU Average 2015 $0.771 CU in preparing consolidated financial statements, Company USA wants to Translate the following accounts for Company Foreign for its financial statements dated December 31, 2015. Show work for partial credit. List the item number by each item. 5 points each Item 1 Revenues Item: Olvidends Item Property Plant Equipment QIY

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