Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2021, have been restated into U.S. dollars as follows: If the current rate used to restate these amounts is $0.95, what was the average historical rate used to arrive at the total amount for historical rates?

Question

Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2021, have been restated into U.S. dollars as follows:  If the current rate used to restate these amounts is $0.95, what was the average historical rate used to arrive at the total amount for historical rates?

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The Answer of Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2021, have been restated into U.S. dollars as follows:  If the current rate used to restate these amounts is $0.95, what was the average historical rate used to arrive at the total amount for historical rates?

Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker