How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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Chapter 8, Problem 9Q

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How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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Question 1181 28 Current Attempt in Progress Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $73,000 $22,000 Accounts receivable 87,000 76.000 Inventory 170,000 191.000 Land 72,000 100.000 Equipment 260,000 200.000 Accumulated depreciation - equipment (66,000) (32.000) Total $596,000 $557,000 Liabilities and Stockholders' Equity Accounts payable $37,000 $47.000 Bonds payable 150,000 210,000 Common stock ($1 par) 216.000 174,000 Retained earnings 193,000 126.000 Total $596,000 $557,000 Additional information: 1 Net income for 2020 was $100,000. N Cash dividends of $33,000 were declared and paid. 3. Bonds payable amounting to $60,000 were redeemed for cash $60,000. -18 4. Common stock was issued for $42,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $36,000 during 2020; land was sold at cost.

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Answer 2

Question

Chapter 8, Problem 9Q

To determine

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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Answer 3

Question

Chapter 8, Problem 9Q

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How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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Answer 4

Question

Chapter 8, Problem 9Q

To determine

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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Answer 5

Chapter 8, Problem 9Q

To determine

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

Answer 6

Chapter 8, Problem 9Q

To determine

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

Answer 7

Chapter 8, Problem 9Q

To determine

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

Answer 8

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Ch. 8 - Prob. 1Q Ch. 8 - What causes balance sheet (or translation)...Ch. 8 - Prob. 3Q Ch. 8 - Prob. 4Q Ch. 8 - Prob. 5Q Ch. 8 - Prob. 6Q Ch. 8 - Prob. 7Q Ch. 8 - Prob. 8Q Ch. 8 - Prob. 9Q Ch. 8 - Prob. 10Q

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

Solution Summary: The author explains how the translation adjustment figure is completed and where is the amount reported in the financial statements.

How the translation adjustment figure is completed and where is the amount reported in the financial statements.

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