If Answered within 45mins,it would be appreciable!!! Big Co. owns 80% of Little Co. Little has the following trial balance which has been translatedfrom Euros to Dollars:EurosExchange rate DollarsAssets400,000 1.25500,000Liabilities100,000 1.25125,000Common Stock40,000 1.144,000Retained earnings 200,000 various300,000200,000 1.2150,000 1.2Revenues240,000Expenses180,000AOCI30,000 creditOCI - translation59,000 loss/debitWhat is the dollar amount of retained earnings that would be carried forward to next year?Answer should be expressed as "xx,xxx" (with the comma, but without the quotation marks!)

Formula: Net Income = Revenues - expenses Deduction of expenses from revenues called Net Income.

Big Co. owns 80% of Little Co. Little has the following trial balance which has been translated from Euros to Dollars: Euros Exchange rate Dollars Assets 400,000 1.25 500,000 Liabilities |100,000 1.25 125,000 Common Stock 40,000 1.1 44,000 Retained earnings 200,000 various 300,000 Revenues 200,000 1.2 240,000 Expenses 150,000 1.2 180,000 AOCI 30,000 credit OCI - translation 59,000 loss/debit What is the dollar amount of retained earnings that would be carried forward to next year? Answer should be expressed as "xxx,xxx" (with the comma, but without the quotation marks!)

Big Co. owns 80% of Little Co. Little has the following trial balance which has been translated from Euros to Dollars: Euros Exchange rate Dollars Assets 400,000 1.25 500,000 Liabilities |100,000 1.25 125,000 Common Stock 40,000 1.1 44,000 Retained earnings 200,000 various 300,000 Revenues 200,000 1.2 240,000 Expenses 150,000 1.2 180,000 AOCI 30,000 credit OCI - translation 59,000 loss/debit What is the dollar amount of retained earnings that would be carried forward to next year? Answer should be expressed as "xxx,xxx" (with the comma, but without the quotation marks!)

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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