1.
Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.
Re-measurement: It is process to measure the financial results of any other currency into functional currency.
Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.
- The currency at which foreign entity will record transaction in its books.
- The functional currency of foreign entity.
- The process to restatement into U. S dollars.
2.
Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.
Re-measurement: It is process to measure the financial results of any other currency into functional currency.
Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.
- The currency at which foreign entity will record transaction in its books.
- The functional currency of foreign entity.
- The process to restatement into U. S dollars.
3.
Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.
Re-measurement: It is process to measure the financial results of any other currency into functional currency.
Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.
a. The currency at which foreign entity will record transaction in its books.
b. The functional currency of foreign entity.
c. The process to restatement into U. S dollars.
4.
Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.
Re-measurement: It is process to measure the financial results of any other currency into functional currency.
Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.
d. The currency at which foreign entity will record transaction in its books.
e. The functional currency of foreign entity.
f. The process to restatement into U. S dollars.
Want to see the full answer?
Check out a sample textbook solution
Chapter 12 Solutions
ADV.FIN.ACCT. CONNECT+PROCTORIO PLUS
- provide accounting question solutionarrow_forwardLandry Manufacturing has two operating departments: Blending and Shaping. Blending has 300 employees and occupies 25,000 ft². Shaping has 100 employees and occupies 20,000 ft². Indirect factory costs for the current month are: administrative, $920,000; and maintenance, $250,000. Administrative costs are allocated to operating departments based on the number of workers. Determine the administrative costs allocated to each operating department.arrow_forwardProvide correct option general accounting questionarrow_forward
- What was the inventory turnover ratio for this financial accounting question?arrow_forwardA company that sells designer handbags forecasts sales of 5,000 bags next year. The cost per handbag is $40, and the selling price is $90. The company's fixed costs, including depreciation and amortization, are $120,000. If actual sales turn out to be 6,500 bags instead of 5,000, what is the percentage increase in EBIT?arrow_forwardGeneral accounting questionarrow_forward
- Accountarrow_forwardGulf Coast Berry Farms harvests early-season blueberries for shipment throughout the southern United States in April. The blueberry farm is maintained by a permanent staff of 12 employees and seasonal workers who pick and pack the blueberries. The blueberries are sold in crates containing 80 individually packaged one-quart containers. Affixed to each one-quart container is the distinctive Gulf Coast Berry Farms logo inviting buyers to "Taste the Freshest Blueberries in the South!" The selling price is $95 per crate, variable costs are $78 per crate, and fixed costs are $300,000 per year. In the year 2023, Gulf Coast Berry Farms sold 60,000 crates. Determine the company's 2023 operating leverage.arrow_forwardanswer is?arrow_forward
Financial Reporting, Financial Statement Analysis...FinanceISBN:9781285190907Author:James M. Wahlen, Stephen P. Baginski, Mark BradshawPublisher:Cengage Learning
Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage