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Subject:AccountingPrice: Bought3
This question will be sent to your instructor for grading. 9 BABA Corporation, a U.S. Company formed a subsidiary with a new company in France on January 1, 2020, by investing 400.000 Euro in exchange for all of the subsidiary's common stock on July 1, 2020, the subsidiary purchased tand for 100.000 Euro and a building for 300.000 Euro The building is being depreciated over a 40-year life by the straight-line method. The inventory s valued at historical cost. The Euro is the subsichary's functional currency and its reporting currency Exchange rates for the Euro on various dates were January 1 2020 1 Euro - $150 July 1 2020 1 Euro = $156 December 1, 2020 1 Euro - $153 2020average rate 1 Euro - $152 The subsidiary's adjusted trial balance shows the following balances Cash 100.000 Accounts receivable 60.000 Inventory 80.000 Land 100.000 Building 300.000 Accumulated depreciation 3.750 Accounts payable Notes Payable 16750 B4 000 9 8 23:30 The subsidiary's adjusted trial balance shows the following balances Cash 100,000 Accounts receivable 60,000 Inventory 80,000 Land 100,000 Building 300,000 Accumulated depreciation 3750 Accounts payable 84.000 Notes Payable 16.750 Common stock 400,000 Retained earnings O Sales revenue 443.000 Cost of goods sold 213.750 Depreciation expense 3.750 Other expenses 90,000 Instruction 1. Translated the previous balances fround to the nearest dollar) 2- Calculate the Cumulative Translation-Adjustment
