On January 1, 2021, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (§). Malont engaged in the following transactions during 2021:
Malont's operating revenues and expenses for 2021 were §800,000 and §650,000, respectively. The appropriate exchange rates were:
Required:Calculate the translation adjustment for Malont. (Round your answers to the nearest whole dollar.)

Question

On January 1, 2021, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (§). Malont engaged in the following transactions during 2021:
  Malont's operating revenues and expenses for 2021 were §800,000 and §650,000, respectively. The appropriate exchange rates were:
  Required:Calculate the translation adjustment for Malont. (Round your answers to the nearest whole dollar.)

Quizplus · Accepted Answer

The Answer of On January 1, 2021, Veldon Co., a U.S. corporation with the U.S. dollar as its functional currency, established Malont Co. as a subsidiary. Malont is located in the country of Sorania, and its functional currency is the stickle (§). Malont engaged in the following transactions during 2021:
  Malont's operating revenues and expenses for 2021 were §800,000 and §650,000, respectively. The appropriate exchange rates were:
  Required:Calculate the translation adjustment for Malont. (Round your answers to the nearest whole dollar.)