question archive Question 54 Marks Selected balance sheet accounts of a foreign idiary w CEO been translated into parent currency fotows Accounts Current rates MORGAN Accounts receivable 100,000 12000 Marketable securities at 200
Question 54 Marks Selected balance sheet accounts of a foreign idiary w CEO been translated into parent currency fotows Accounts Current rates MORGAN Accounts receivable 100,000 12000 Marketable securities at 200
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Question 54 Marks Selected balance sheet accounts of a foreign idiary w CEO been translated into parent currency fotows Accounts Current rates MORGAN Accounts receivable 100,000 12000 Marketable securities at 200.000 cost 240.000 Prepaid insurance 120.000 130.000 Goodwill 250,000 100.000 Total 670,000 790.000 Required: a. Assuming that the foreign subsidiary is determined to have the foreign curtense as its functional currency in accordance with IAS 21. determine the total amount that should be included in PWW's consolidated balance sheet for the assets listed in accordance with IFRS. b. Assuming that the foreign subsidiary is determined to have WW's reporting currency as its functional currency in accordance with IAS 29, determine the total amount that should be included in PWW's consolidated balance sheet for the assets listed in accordance with IFRS.
