AU.S. company owns an 80. s interest in a company located on Mars, Martian currency is called the Martian Cedic. During the year the parent company sold inventory that had cost $24,900 to the subsidiary on account for $29,100 when the echange rate was fiscal period. The unsettled account is denominated in dollars. The exchange rate at the fiscal year end was 50.4994(a1) Compute the amounts that would be reported for the inventory and accounts payable in the wbsidiarys innslated balance shect. The entity's functional currency is the Martian Credit. (Round answers to O decimal ploces es, 5, 125)

AU.S. company owns an 80. s interest in a company located on Mars, Martian currency is called the Martian Cedic. During the year the parent company sold inventory that had cost $24,900 to the subsidiary on account for $29,100 when the echange rate was fiscal period. The unsettled account is denominated in dollars. The exchange rate at the fiscal year end was 50.4994(a1) Compute the amounts that would be reported for the inventory and accounts payable in the wbsidiarys innslated balance shect. The entity's functional currency is the Martian Credit. (Round answers to O decimal ploces es, 5, 125)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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