Spirit Leatherworks,Inc.,purchased Brechner Leather Products,a Canadian company,on January 4,2014.On the date of purchase,the exchange rate for 1 Canadian dollar was U.S.$0.97.Brechner Leather Products balance sheet on the date of purchase is shown below:
Brechner Leather Products
Balance Sheet
January 4,2014

Required:
Prepare a translated balance sheet as of January 4,2014.

Question

Spirit Leatherworks,Inc.,purchased Brechner Leather Products,a Canadian company,on January 4,2014.On the date of purchase,the exchange rate for 1 Canadian dollar was U.S.$0.97.Brechner Leather Products balance sheet on the date of purchase is shown below:
Brechner Leather Products
Balance Sheet
January 4,2014
  
Required:
Prepare a translated balance sheet as of January 4,2014.

Quizplus · Accepted Answer

The Answer of Spirit Leatherworks,Inc.,purchased Brechner Leather Products,a Canadian company,on January 4,2014.On the date of purchase,the exchange rate for 1 Canadian dollar was U.S.$0.97.Brechner Leather Products balance sheet on the date of purchase is shown below:
Brechner Leather Products
Balance Sheet
January 4,2014
  
Required:
Prepare a translated balance sheet as of January 4,2014.