ADVANCED ACCOUNTING-LL
13th Edition
ISBN: 9781260232486
Author: Hoyle
Publisher: MCGRAW-HILL CUSTOM PUBLISHING
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Chapter 10, Problem 23P
The following accounts are denominated in rubles as of December 31, 2017. For reporting purposes, these accounts need to be stated in U.S. dollars. For each account, indicate the exchange rate that would be used to translate the ruble balance into U.S. dollars under the current rate method. Then, again for each account, indicate the exchange rate that would be used to remeasure the ruble balance to U.S. dollars using the temporal method. The company was started in 2012. The buildings were acquired in 2013 and the patents in 2015.
| Translation | Remeasurement | |
| Accounts payable | ||
| Accounts receivable | ||
| Advertising expense | ||
| Amortization expense (patents) | ||
| Buildings | ||
| Cash | ||
| Common stock | ||
| Depreciation expense | ||
| Dividends (10/1/17) | ||
| Notes payable—due in 2020 | ||
| Patents (net) | ||
| Salary expense | ||
| Sales |
Exchange rates for 1 ruble are as follows:
| 2012 | 1 ruble = $0.28 |
| 2013 | 1 = 0.26 |
| 2015 | 1 = 0.25 |
| January 1, 2017 | 1 = 0.24 |
| April 1, 2017 | 1 = 0.23 |
| July 1, 2017 | 1 = 0.22 |
| October 1, 2017 | 1 = 0.20 |
| December 31, 2017 | 1 = 0.16 |
| Average for 2017 | 1 = 0.19 |
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The following accounts are denominated in rubles as of December 31, 2020. For reporting purposes, these accounts need to be stated in U.S. dollars. For each account, indicate the exchange rate that would be used to translate the ruble balance into U.S. dollars under the current rate method. Then, again for each account, indicate the exchange rate that would be used to remeasure the ruble balance to U.S. dollars using the temporal method. The company was started in 2015. The buildings were acquired in 2016 and the patents in 2018.
Exchange rates for 1 ruble are as follows:
2015
1 ruble
=
$
0.28
2016
1
=
0.26
2018
1
=
0.25
January 1, 2020
1
=
0.24
April 1, 2020
1
=
0.23
July 1, 2020
1
=
0.22
October 1, 2020
1
=
0.20
December 31, 2020
1
=
0.16
Average for 2020
1
=
0.19
The following accounts are denominated in rubles as of December 31, 2020. For reporting purposes, these accounts need to be stated in U.S. dollars. For each account, indicate the exchange rate that would be used to translate the ruble balance into U.S. dollars under the current rate method. The company was started in 2015. The buildings were acquired in 2016 and the patents in 2018.
Exchange rates for 1 ruble are as follows:
2015
1 ruble
=
$
0.28
2016
1
=
0.26
2018
1
=
0.25
January 1, 2020
1
=
0.24
April 1, 2020
1
=
0.23
July 1, 2020
1
=
0.22
October 1, 2020
1
=
0.20
December 31, 2020
1
=
0.16
Average for 2020
1
=
0.19
The following accounts are denominated in rubles as of December 31, 2017. For reporting purposes, these accounts need to be stated in U.S. dollars. For each account, indicate the exchange rate that would be used to translate the ruble balance into U.S. dollars under the current rate method. Then, again for each account, indicate the exchange rate that would be used to remeasure the ruble balance to U.S. dollars using the temporal method. The company was started in 2012. The buildings were acquired in 2013 and the patents in 2015.Exchange rates for 1 ruble are as follows:
Chapter 10 Solutions
ADVANCED ACCOUNTING-LL
Ch. 10 - Prob. 1QCh. 10 - What causes balance sheet (or translation)...Ch. 10 - Prob. 3QCh. 10 - Prob. 4QCh. 10 - Prob. 5QCh. 10 - Prob. 6QCh. 10 - Prob. 7QCh. 10 - Prob. 8QCh. 10 - Prob. 9QCh. 10 - Prob. 10Q
Ch. 10 - Prob. 11QCh. 10 - Which translation method does U.S. GAAP require...Ch. 10 - Prob. 13QCh. 10 - Prob. 1PCh. 10 - Prob. 2PCh. 10 - Prob. 3PCh. 10 - Prob. 4PCh. 10 - Prob. 5PCh. 10 - Prob. 6PCh. 10 - Prob. 7PCh. 10 - Prob. 8PCh. 10 - What amount does Newberrys consolidated income...Ch. 10 - Prob. 10PCh. 10 - Prob. 11PCh. 10 - Prob. 12PCh. 10 - Prob. 13PCh. 10 - Prob. 14PCh. 10 - Prob. 15PCh. 10 - Prob. 16PCh. 10 - Prob. 17PCh. 10 - A foreign subsidiarys functional currency is its...Ch. 10 - Prob. 19PCh. 10 - Prob. 20PCh. 10 - Prob. 21PCh. 10 - Prob. 22PCh. 10 - The following accounts are denominated in rubles...Ch. 10 - Prob. 24PCh. 10 - Prob. 25PCh. 10 - Sullivans Island Company began operating a...Ch. 10 - Prob. 27PCh. 10 - Prob. 28PCh. 10 - Prob. 29PCh. 10 - Prob. 30PCh. 10 - Prob. 31PCh. 10 - Prob. 32PCh. 10 - Prob. 33PCh. 10 - The following account balances are for the Agee...Ch. 10 - Prob. 35PCh. 10 - Prob. 36PCh. 10 - Prob. 37PCh. 10 - Prob. 38PCh. 10 - Prob. 1DYSCh. 10 - RESEARCH CASE 2FOREIGN CURRENCY TRANSLATION...Ch. 10 - Prob. 3DYSCh. 10 - Prob. 4DYSCh. 10 - Prob. 5DYS
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