REFERENCE: Ref.10_13
Boerkian Co.started 2008 with two assets: cash of §26,000 (stickles)and land that originally cost §72,000 when acquired on April 4,2004.On May 1,2008,the company rendered services to a customer for §36,000,an amount immediately paid in cash.On October 1,2008,the company incurred an operating expense of §22,000 that was immediately paid.No other transactions occurred during the year.Currency exchange rates were as follows:
SHAPE \* MERGEFORMAT

-Required:
Assume that Boerkian was a foreign subsidiary of a U.S.multinational company.On the December 31,2008 balance sheet,what was the translated value of the Land account?

Question

REFERENCE: Ref.10_13
Boerkian Co.started 2008 with two assets: cash of §26,000 (stickles)and land that originally cost §72,000 when acquired on April 4,2004.On May 1,2008,the company rendered services to a customer for §36,000,an amount immediately paid in cash.On October 1,2008,the company incurred an operating expense of §22,000 that was immediately paid.No other transactions occurred during the year.Currency exchange rates were as follows:
SHAPE \* MERGEFORMAT
 
-Required:
Assume that Boerkian was a foreign subsidiary of a U.S.multinational company.On the December 31,2008 balance sheet,what was the translated value of the Land account?

Quizplus · Accepted Answer

The Answer of REFERENCE: Ref.10_13
Boerkian Co.started 2008 with two assets: cash of §26,000 (stickles)and land that originally cost §72,000 when acquired on April 4,2004.On May 1,2008,the company rendered services to a customer for §36,000,an amount immediately paid in cash.On October 1,2008,the company incurred an operating expense of §22,000 that was immediately paid.No other transactions occurred during the year.Currency exchange rates were as follows:
SHAPE \* MERGEFORMAT
 
-Required:
Assume that Boerkian was a foreign subsidiary of a U.S.multinational company.On the December 31,2008 balance sheet,what was the translated value of the Land account?

REFERENCE: Ref.10_13 Boerkian Co.started 2008 with Two Assets: Cash of §26,000 (Stickles)and