
Introduction: Translation adjustment is the method used to convert the local currency into the parents' functional currency when the local currency is the foreign entity’s functional currency. The current rate is used to translate the financial statements that are the exchange rate on the
Preparation of a schedule translating the selected accounts into dollars as of December 31, 20X1 and 20X2. Assuming local currency unit is the foreign subsidiary’s functional currency.

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Chapter 12 Solutions
ADVANCED FINANCIAL ACCT.(LL) >CUSTOM<
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