Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows: If the subsidiary's local currency is its functional currency, what total amount should be included in Crater's balance sheet in U.S. dollars?
A) $688,000.
B) $687,000.
C) $665,000.
D) $679,000.
E) $696,000.

Question

Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows:  If the subsidiary's local currency is its functional currency, what total amount should be included in Crater's balance sheet in U.S. dollars?
A) $688,000. 
B) $687,000. 
C) $665,000. 
D) $679,000. 
E) $696,000.

Quizplus · Accepted Answer

The Answer is C

Certain Balance Sheet Accounts of a Foreign Subsidiary of the Crater