Windsor Enterprises,a subsidiary of Kennedy Company based in New York,reported the following information at the end of its first year of operations (all in British pounds): assets--338,000; expenses--360,000; liabilities--101,000; capital stock--80;000,revenues--517,000.Relevant exchange rates are as follows:

As a result of the translation process,what amount is recorded on the financial statements as the translation adjustment?

Question

Windsor Enterprises,a subsidiary of Kennedy Company based in New York,reported the following information at the end of its first year of operations (all in British pounds) : assets--338,000; expenses--360,000; liabilities--101,000; capital stock--80;000,revenues--517,000.Relevant exchange rates are as follows:

As a result of the translation process,what amount is recorded on the financial statements as the translation adjustment?

Quizplus · Accepted Answer

The Answer of Windsor Enterprises,a subsidiary of Kennedy Company based in New York,reported the following information at the end of its first year of operations (all in British pounds): assets--338,000; expenses--360,000; liabilities--101,000; capital stock--80;000,revenues--517,000.Relevant exchange rates are as follows:

As a result of the translation process,what amount is recorded on the financial statements as the translation adjustment?

Windsor Enterprises,a Subsidiary of Kennedy Company Based in New York,reported