DeGaulle Enterprises,a subsidiary of Clinton Company based in New York,reported the following information at the end of its first year of operations (all in French francs): assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000,revenues--7,140,000.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

DeGaulle Enterprises,a subsidiary of Clinton Company based in New York,reported the following information at the end of its first year of operations (all in French francs) : assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000,revenues--7,140,000.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 DeGaulle Enterprises,a subsidiary of Clinton Company based in New York,reported the following information at the end of its first year of operations (all in French francs): assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000,revenues--7,140,000.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?

DeGaulle Enterprises,a Subsidiary of Clinton Company Based in New York,reported