Homework: Chapter 11 Homework a. What is the amount of translation gain or loss? b. Where should it appear in the financ

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Homework Chapter 11 Homework A What Is The Amount Of Translation Gain Or Loss B Where Should It Appear In The Financ 1 (48.99 KiB) Viewed 45 times

Homework Chapter 11 Homework A What Is The Amount Of Translation Gain Or Loss B Where Should It Appear In The Financ 2 (81.04 KiB) Viewed 45 times

Homework: Chapter 11 Homework a. What is the amount of translation gain or loss? b. Where should it appear in the financial statements? Question 1, Problem 11-1 (algorithmic) Part 1 of 2 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/E to $1.0000/€. Recalculate Ganado Europe's translated balance sheet for January 2, 2016, with the new exchange rate using the current rate method as shown in the popup window, a. What is the amount of translation gain or loss? Enter a positive number for a gain and negative for a loss. (Round to the nearest dollar.) Help me solve this View an example HW Score: 0%, 0 of 10 points Points: 0 of 1 Get more help. Save Clear all Check answer
Sip Data table EXHIBIT 11.5 Ganado Europe's Translation Loss After Depreciation of the Euro: Current Rate Method December 31, 2015 Assets Cash Accounts receivable Inventory Net plant and equipment Total Liabilities and Net Worth Accounts payable Short-term bank debt Long-term debt Common stock Retained earnings Translation adjustment (CTA) Total In Euros (€) 1,600,000 2,500,000 2,900,000 5,400,000 12,400,000 SUIVO Uns Question 1 Drohlam 11.1 1,300,000 1,400,000 1,700,000 2,200,000 5,800,000 VIUW DIE CADmpio Exchange Rate (US$/euro) 1.2000 1.2000 1.2000 1.2000 1.2000 1.2000 1.2000 1.2760 1.2000 (a) Print Translated Accounts (USS) GOL MOTC Tempa $1,920,000 3,000,000 3,480,000 6,480,000 $14,880,000 $1,560,000 1,680,000 2,040,000 2,807,200 6,960,000 (167,200) January 2, 2016 Done Exchange Rate (US$/euro) 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.2760 1.2000 (b) 12,400,000 $14,880,000 (a) Dollar retained earnings before depreciation are the cumulative sum of additions to retained earnings of all prior years, translated to exchange rates in each year. (b) Translated into dollars at the same rate as before depreciation of the euro. Click on the icon located on the top-right corner of the data table in order to copy its contents into a spreadsheet. Translated Accounts (US$) Diem un $1,600,000 2,500,000 2,900,000 5,400,000 $12,400,000 $1,300,000 1,400,000 1,700,000 2,807,200 6,960,000 (1,767,200) $12,400,000 0