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
Accumulated depreciation—buildings
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