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    Advanced Accounting Currency Tranlation Experiantial Exercise

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    NJZFINEST5013
    This document appears to be an experiential exercise on currency translation involving accounts in Euros and US Dollars. It provides opening balances in Euros for various accounts including cash, accounts receivable, land, building, accounts payable, mortgage payable, common stock and retained earnings. It also provides exchange rates to convert the Euro balances to US Dollars and calculates a remeasurement loss using different exchange rates. The assignment is to calculate the translation adjustment using the current, historical and average exchange rates provided.

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    Advanced Accounting Currency Tranlation Experiantial Exercise

    Uploaded by

    NJZFINEST5013
    16 views12 pages
    This document appears to be an experiential exercise on currency translation involving accounts in Euros and US Dollars. It provides opening balances in Euros for various accounts including cash, accounts receivable, land, building, accounts payable, mortgage payable, common stock and retained earnings. It also provides exchange rates to convert the Euro balances to US Dollars and calculates a remeasurement loss using different exchange rates. The assignment is to calculate the translation adjustment using the current, historical and average exchange rates provided.

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    Advanced Accounting

    Original Title

    Translation Experiantial

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    This document appears to be an experiential exercise on currency translation involving accounts in Euros and US Dollars. It provides opening balances in Euros for various accounts including cash, accounts receivable, land, building, accounts payable, mortgage payable, common stock and retained earnings. It also provides exchange rates to convert the Euro balances to US Dollars and calculates a remeasurement loss using different exchange rates. The assignment is to calculate the translation adjustment using the current, historical and average exchange rates provided.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    16 views12 pages

    Advanced Accounting Currency Tranlation Experiantial Exercise

    Uploaded by

    NJZFINEST5013
    This document appears to be an experiential exercise on currency translation involving accounts in Euros and US Dollars. It provides opening balances in Euros for various accounts including cash, accounts receivable, land, building, accounts payable, mortgage payable, common stock and retained earnings. It also provides exchange rates to convert the Euro balances to US Dollars and calculates a remeasurement loss using different exchange rates. The assignment is to calculate the translation adjustment using the current, historical and average exchange rates provided.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 12

    Advanced Accounting

    Currency Tranlation
    Experiantial exercise

    Cash
    Accounts rec
    Land
    Building

    Accounts Payable
    Mortgage payable
    Common stock
    Retained earnings
    Revenues
    Expenses
    Depreciating exp.
    Totals
    Remeasurement loss
    Totals

    Assignment

    Euro
    Db
    60
    100
    200
    400

    Cr

    nt loss

    100
    200
    100
    260
    260
    140
    20
    920

    920

    Calculate the translation adju


    Current rate
    Historial rate
    Average rate

    1.14
    0.8
    1.11

    Exchange rate
    1.12
    1.12
    0.9
    0.9

    US Dollar
    Db
    67
    112
    180
    360

    1.12
    1.12
    0.9
    1.1
    1.1
    0.9

    154.0
    18.0
    891
    41
    932

    ation adjustment if the exchang

    Dollar
    Cr

    112
    224
    90
    220 (Given)
    286

    932
    (Plug)
    932

    xchange rates are

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