Chapter 12, Problem 12.20P

Remeasurement Gain or Loss
Refer to the information given in P12−17 and your answer to part a of P12−18.

Required
Prepare a schedule providing a proof of the remeasurement gain or loss. For this part of the problem, assume that the Norwegian subsidiary had the following monetary assets and liabilities at January 1, 20X5:

On January 1, 20X5, the Norwegian subsidiary has a net monetary liability position of NKr60,000.