Adamantine Architectonics. Adamantine Architectonics consists of a U.S. parent and wholly owned subsidiaries in Malaysia (A-Malaysia) andMexico (A-Mexico). Selected portions of their non-consolidated balance sheets, translated into U.S. dollars, are shown in the popup window,What are the debt and equity proportions in Adamantine's consolidated balance sheet?What is the debt proportion in Adamantine's consolidated balance sheet?% (Round to two decimal places.)Data table(Click on the following icon in order to copy its contents into a spreadsheet.)A-Malaysia (in ringgits)A-Mexico (in pesos)Long-term debtRM12,920,000Shareholders' equityRM13,300,000Long-term debtShareholders' equityPs31,200,000Ps87,100,000Adamantine Architectonics (non-consolidated)Investment in subsidiaries (US dollars):Parent long-term debt$11,000,000in A-Malaysia$3,500,000Common stockin A-Mexico$6,700,000Retained earnings$6,000,000$25,000,000Current exchange ratesMalaysian ringgit per dollarRM3.80/$Mexican pesos per dollarPs13.00/$-☑

To find the debt proportion in Adamantine's consolidated balance sheet, we need to first convert all…

Answered: Adamantine Architectonics. Adamantine…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

. Entity A is a stand-alone entity (it is not part of a group). Its functional currency is CU. However, Entity A is required by law to present its financial statements in USD, which is the local currency of the country in which it operates. Entity A has a 31 December financial year-end. The exchange rates: • at 31 December 20X1 and 31 December 20X2 are CU1 = USD2 and CU1 = USD2.2 respectively. • In 20X2 Entity A paid a dividend of CU3,000 when the rate of exchange was CU1 = USD2.25. • The share capital was issued when the exchange rate was CU1 = USD1.8. Statement of comprehensive income for the year ended 31 December 20X2 20X2 CU Revenue 146,114 Cost of sales (113,969) Gross profit 32,145 Distribution costs (150) Administrative expenses (9,000) Other expenses (1,000) Finance costs (3,000) Profit before tax 18,995 Income tax expense (4,495) Profit for the year 14,500 Extract from the statement of changes in equity Retained earnings at the beginning of year 18,000 Profit for the year…
Ding plc are looking to expand the business and plan to purchase subsidiaries in several different countries including France, the USA and China. The finance director is aware that in some parts of the world IFRS is not permitted for use and has asked you to provide a clearer understanding of how the regulatory framework for financial reporting operates around the world and the significance of international accounting harmonisation. Required Prepare a briefing document for the finance director of Ding plc outlining how IFRS are used around the world and covering the ongoing debates around standardisation and harmonisation. Your report should include the advantages and disadvantages of standardisation and harmonisation.
Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered in Toronto. Although this wholly owned company operates primarily in Canada, it engages in some transactions through a branch in Mexico. Therefore, the subsidiary maintains a ledger denominated in Mexican pesos (Ps) and a general ledger in Canadian dollars (C$). As of December 31, 2020, the subsidiary is preparing financial statements in anticipation of consolidation with the U.S. parent corporation. Both ledgers for the subsidiary are as follows: Main Operation—Canada Debit Credit Accounts payable C$ 57,410 Accumulated depreciation 49,000 Buildings and equipment C$ 189,000 Cash 48,000 Common stock 72,000 Cost of goods sold 225,000 Depreciation expense 9,100 Dividends, 4/1/20 41,000 Gain on sale of equipment, 6/1/20 7,200 Inventory 101,000 Notes…
How does a parent company determine the appropriate method for translating the financial statements of a foreign subsidiary?
Foreign companies whose stocks are listed on the New York stock exchange (NYSE) must report their income in terms of Select One: a. Accounting Standard b. European Accounting Standard c. Political Report d. GAAP of the USA
Looking for help with these two questions. 1. Prepare financial statements (income statement, statement of retained earnings, and balance sheet) for the Canadian subsidiary in its functional currency, Canadian dollars.2. Translate the Canadian dollar functional currency financial statements into U.S. dollars so that Sendelbach can prepare consolidated financial statements.
A U.S. parent owns a subsidiary in France, the subsidiary's accounts are maintained in euros, and its functional currency is the U.S. dollar. During the year, the euro has weakened against the U.S. dollar (U.S.$/€ rate has declined).Which one of the subsidiary's transactions below increases the amount of remeasurement losses reported when the subsidiary's accounts are translated to U.S. dollars?Select one:A. Inventory purchasesB. Depreciation expenseC. Sale of equity securitiesD. Sales revenue Plz answer fast without plagiarism.
If the euro is chosen as the Ukraine subsidiary’s functional currency, Eurexim will translateits fi xed assets using the:A . average rate for the reporting period.B . rate in eff ect when the assets were purchased.C . rate in eff ect at the end of the reporting period.
Translate the following Balance sheet of XYZ Ltd. Which is an Indian based multinational company doing business in UK using Current rate, Current/Non-current method, and monetary non-Monetary and temporal method and show the Cumulative translation Adjustment. You are required to prepare the Consolidated Balance Sheet under all methods. Assume the Current rate of exchange INR/GBP as on 31“ December 2018 is 94.1041 and Historical exchange rate GBP/INR as on 1" January 2018 was 0.01063 and average rate is INR/GBP was at 86.2458 Balance sheet of XYZ Ltd as on 31 December 2018. (Parent) Assets Amount in GBP Amount in INR cash at bank 7526 624658 Deferred Tax assets 4500 373500 Receivables from debtors 5350 444050 Derivative financial assets 8635 716705 Licences Land 16000 1328000 26000 2158000 Accrued interest 871500 10500 78511 6516413 Liabilities and Equity Payables to creditors Accrued expenses Capital lease due 5456 452848 16521 1371243 11000 913000 Share capital 45534 3779322 78511…

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS