None Question 4 Segment ReportingGold Digger Ltd is a company engaged in upstream and downstream goldoperations. It has five geographical areas. All amounts are in US$ billions. Minusfigures indicate losses.South Africa Canada Australia Tanzania US Indonesia TotalRevenue 22102432104102Profit/(loss) 3.2-0.547-1.3-0.312.1Assets341228402012146Required:(a)Determine reportable segments (show your calculations).(b)Justify your answer.

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Answered: Question 4 Segment Reporting Gold…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 26PC

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Given the following balance sheet of a US based MNC’s fully operational subsidiary, who operates in Japan and whose functional currency is the Japanese Yen, determine the amount of the translation exposure in dollars if the Yen depreciates by 10% from ¥110/$ to ~¥122/$ by applying the current rate method. Balance Sheet of Subsidiary in ¥ Assets Liabilities + Equity Cash ¥145,000 Accounts Payable ¥246,000 A/R ¥104,000 Short Term Debt ¥128,000 Inventory ¥275,000 Long term debt ¥329,000 PPE ¥895,000 Common Stock ¥534,000 Retained Earnings ¥182,000 Total ¥1,419,000 ¥1,419,000
Ganado Europe (B). Using facts in the chapter for Ganado Europe, assume that the exchange rate on January 2, 2016, in Exhibit 11.6 dropped in value from $1.2000/€ to $0.9000/€. Recalculate Ganado Europe's translated balance sheet for January 2, 2016, with the new exchange rate using the temporal rate method as shown in the popup window, a. What is the amount of translation gain or loss? b. Where should it appear in the financial statements? c. Why does the translation loss or gain under the temporal method differ from the loss or gain under the current rate method? a. What is the amount of translation gain or loss? Enter a positive number for a gain and negative for a loss. (Round to the nearest dollar.)
Ganado Europe (A). Using facts in the chapter for Ganado Europe, assume the exchange rate on January 2, 2016, in Exhibit 11.5 dropped in value from $1.2000/€ to $0.9000/€. Recalculate Ganado Europe's translated balance sheet for January 2, 2016, with the new exchange rate using the current rate method as shown in the popup window, E a. What is the amount of translation gain or loss? b. Where should it appear a the financial statements? a. What is the amount of translation gain or loss? Enter a positive number for a gain and negative for a loss. (Round to the nearest dollar.)
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A3
Nutrien Ltd.-the world's largest potash producer-is a Canadian corporation based in Saskatoon, Saskatchewan. The following is information taken from its financial statements reported in $US but prepared in accordance with IFRS. Accumulated Other Comprehensive (Loss) Income ("AOCI") Net Actuarial Loss on Total Net Fair Gain on Currency Accumulated Value Defined Translation Other Share Contributed Loss on Benefit of Foreign Comprehensive Retained Total Earnings Equity $6,242 $8,303 (1) 15,904 3,573 (In millions of dollars) Capital $1,806 15,898 Surplus Investments Plans Operations Other $(2) $(46) Income Balance-December 31, 2017 Merger impact (Notes 3 and 11) Net earnings Other comprehensive (loss) income Share repurchased (Note 24) Dividends declared $230 $73 $25 3,573 (302) (831) (1,852) (1,273) (1,273) (99) 54 (249) (8) (302) (998) (23) Effect of share-based compensation including issuance of common shares Transfer of net actuarial gain on defined benefit plans Transfer of net loss…
Question 1 ABC Corp. is a domestic corporation. It sold goods to XYZ Corp., a PEZA-registered export enterprise based in Cavite Economic Zone. ABC Corp. billed XYZ Corp. Php 1,000,000 upon delivery to XYZ Corp. XYZ Corp. paid Php 1,000,000. Subsequently, XYZ Corp. exported the goods to GHI Corp. based in the United States. The sale by ABC Corp. is: Group of answer choices a. Subject to 12% VAT b. Subject to 0% VAT c. VAT-exempt d. Subject to percentage tax
Problems 26-30 assume that a U.S.-based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore income taxes for each problem.Trecek Corporation incurs research and development costs of $650,000 in 2017, 30 percent of which relate to development activities subsequent to IAS 36 criteria having been met that indicate an intangible asset has been created. The newly developed product is brought to market in January 2018 and is expected to generate sales revenue for 10 years.a. Determine the appropriate accounting for research and development costs for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.b. Prepare the entry(ies) that Trecek would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS.
EXERCISE 12-6 (AICPA adapted) Transaction Gain or Loss LO 4 Agentel Corporation is a U.S.-based importing-exporting company. The company entered into the following transactions during the month of November. Nov. 6 Purchased merchandise from AGT, a Swiss firm, for 600,000 francs. 5 Sold merchandise to SLS, Inc., a firm located in Rio De Janeiro, Brazil, for $200,000. 18 Sold merchandise to TNT, Ltd., a British firm, for 130,000 pounds. 20 Purchased merchandise from SDS, Ltd., a British firm, for $160,000. All the transactions were unsettled at December 31, Agentel's fiscal year-end. Spot rates are as follows: Currency Date November 6 November 15 Swiss Franc Real Pound $1.049 1.0487 $.412 $1.520 .409 1.509 November 18 November 20 1.0468 December 31 1.046 1.0476 -414 1.506 .405 1.498 -398 1.482 Required: A. Compute the amount that Agentel would report for each unsettled receivable and payable in its balance sheet prepared at December 31. B. Compute the transaction gain or loss on each…
33. Subject :- Accounting
A wholly owned subsidiary of a U.S. parent company haS certain expense accounts for the year ended December 31, 2011, stated in local currency units (LCU) as follows: LCU Depreciation of equipment (related assets were purchased January 1, 2009) 375,000 Provision for doubtful accounts 250,000 Rent 625,000 The exchange rates at various dates are as follows: Dollar equivalent of 1 LCU December 31, 2011 $0.50 0,55 Average for year ended December 31, 2011 0.40 January 1, 2009 10:59 T-TI/-W EN lenovo DODOLBYO
1-Assume that our subsidiary’s income statement in Euros (€) is reported as follows for the year: Income statement: In Euros (€) Sales 2,500,000 Cost of goods sold (1,600,000) Gross Profit 900,000 Operating expenses (540,000) Net income 360,000 Also assume the following exchange rates: $ / € BOY Rate $1.30 EOY rate $1.40 Avg. rate $1.35 Required: Translate the income statement into $US using the current-rate method.

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