Corrington Metalworks,Inc.,purchased Scotia Metal Products,a Scotia company,on January 4,2014.On the date of purchase,the exchange rate for 1 Scotia dollar was U.S.$0.79.Scotia Metal Products balance sheet on the date of purchase is shown below:

Required:
Prepare a translated balance sheet as of January 4,2014.

Question

Corrington Metalworks,Inc.,purchased Scotia Metal Products,a Scotia company,on January 4,2014.On the date of purchase,the exchange rate for 1 Scotia dollar was U.S.$0.79.Scotia Metal Products balance sheet on the date of purchase is shown below:
  
Required:
Prepare a translated balance sheet as of January 4,2014.

Quizplus · Accepted Answer

The Answer of Corrington Metalworks,Inc.,purchased Scotia Metal Products,a Scotia company,on January 4,2014.On the date of purchase,the exchange rate for 1 Scotia dollar was U.S.$0.79.Scotia Metal Products balance sheet on the date of purchase is shown below:
  
Required:
Prepare a translated balance sheet as of January 4,2014.