Monty Enterprises,a subsidiary of Kerry Company based in Delaware,reported the following information at the end of its first year of operations (all in British pounds): assets--483,000; expenses--360,000; liabilities--105,000; capital stock--90,000,revenues--648,000.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

Monty Enterprises,a subsidiary of Kerry Company based in Delaware,reported the following information at the end of its first year of operations (all in British pounds) : assets--483,000; expenses--360,000; liabilities--105,000; capital stock--90,000,revenues--648,000.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 Monty Enterprises,a subsidiary of Kerry Company based in Delaware,reported the following information at the end of its first year of operations (all in British pounds): assets--483,000; expenses--360,000; liabilities--105,000; capital stock--90,000,revenues--648,000.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?

Monty Enterprises,a Subsidiary of Kerry Company Based in Delaware,reported the Following