es Bentley Company owns a subsidiary in India whose balance sheets in rupees (R) for the last two years follow: December 31, December 31, Assets: Cash Receivables Inventory Fixed Assets, net Total Assets Equities: Current Payables Long-Term Debt Common Stock Retained Earnings Total Equities 20X6 20X7 R 119,000 455,000 684,000 1,013,000 R 94,000 553,000 739,000 917,000 R 2,271,000 R 2,303,000 275,000 1,269,000 506,000 221,000 R 2,271,000 344,000 1,139,000 506,000 314,000 R 2,303,000 Bentley formed the subsidiary on January 1, 20X6, when the exchange rate was 30 rupees for 1 U.S. dollar. The exch rate for 1US dollar on December 31 20X6 and December 31 20X7 had increased to 35 rupees and 40 rupees.

es Bentley Company owns a subsidiary in India whose balance sheets in rupees (R) for the last two years follow: December 31, December 31, Assets: Cash Receivables Inventory Fixed Assets, net Total Assets Equities: Current Payables Long-Term Debt Common Stock Retained Earnings Total Equities 20X6 20X7 R 119,000 455,000 684,000 1,013,000 R 94,000 553,000 739,000 917,000 R 2,271,000 R 2,303,000 275,000 1,269,000 506,000 221,000 R 2,271,000 344,000 1,139,000 506,000 314,000 R 2,303,000 Bentley formed the subsidiary on January 1, 20X6, when the exchange rate was 30 rupees for 1 U.S. dollar. The exch rate for 1US dollar on December 31 20X6 and December 31 20X7 had increased to 35 rupees and 40 rupees.

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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