Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows: If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Crater's balance sheet in U.S. dollars?
A)$688,000.
B)$696,000.
C)$710,000.
D)$665,000.
E)$679,000.

Question

Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows:  If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Crater's balance sheet in U.S. dollars?
A)$688,000. 
B)$696,000. 
C)$710,000. 
D)$665,000. 
E)$679,000.

Quizplus · Accepted Answer

The Answer of Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows:  If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Crater's balance sheet in U.S. dollars?
A)$688,000. 
B)$696,000. 
C)$710,000. 
D)$665,000. 
E)$679,000.

Certain Balance Sheet Accounts of a Foreign Subsidiary of the Crater