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    Translation Problems Sol

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    Adam Smith
    This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

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    Translation Problems Sol

    Uploaded by

    Adam Smith
    24 views2 pages
    This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

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    Translation-Problems-sol

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    This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    24 views2 pages

    Translation Problems Sol

    Uploaded by

    Adam Smith
    This document contains financial information for two companies, including sales, costs, assets, liabilities, equity, income, and translation adjustments. For the first company, net income was $2,750 resulting in an increase to retained earnings of $2,750. Total assets were $21,750 and the cumulative translation adjustment was a $1,775 credit. For the second company, net income was $15,000 with $12,000 being added to retained earnings. Total assets were $146,000 and the cumulative translation adjustment was a $125,000 debit.

    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 2

    Sales 90,000 67.

    5 6075000
    COGS 80,000 67.5 5400000
    Dep 1,500 67.5 101250
    Other Exp 5,750 67.5 388125
    Net Income 2,750 185,625
    Dividends 0 0
    Increase to R/E 2,750 185,625

    Total Assets 21,750 67.6 1470300

    Total Liab 11,500 67.6 777400


    Ordinary Shares 5000 67.2 336000
    Retained Earnings
    Dec 31,2016 119,500
    Increase to R/E 185,625
    Dec 31,2017 305,125 305,125
    Total Liab&SHE 1418525
    CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2017
    (Translated TA - Translated L&SHE) 51775 Credit
    CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2016 50,000 Credit
    Translation Adjustment for 2017 1,775 Credit
    Net Income 15,000 12 180,000
    Dividends 3,000 10 30000
    Increase to R/E 12,000 150,000

    Total Assets 146,000 10 1460000

    Total Liab 45,000 10 450000


    Ordinary Shares 60000 11 660000
    Retained Earnings
    Dec 31,2016 325,000
    Increase to R/E 150,000
    Dec 31,2017 475,000 475,000
    Total Liab&SHE 1585000
    CUMULATIVE Translation Adj. (DR)/CR Dec 31, 2017
    (Translated TA - Translated L&SHE) -125000 Debit

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