Page 1 of 1
4 points Save Answer 20,000 Quadros Inc., a Portugese firm was acquired by a U.S. company on January 1, 2021. Selected a
Posted: Wed May 04, 2022 6:48 am
by answerhappygod
- 4 Points Save Answer 20 000 Quadros Inc A Portugese Firm Was Acquired By A U S Company On January 1 2021 Selected A 1 (61.15 KiB) Viewed 40 times
4 points Save Answer 20,000 Quadros Inc., a Portugese firm was acquired by a U.S. company on January 1, 2021. Selected account balances are available for the year ended December 31, 2022, and are stated in euro, the local currency. Sales Euro 400,000 Inventory (bought on February 1, 2022) Equipment (bought on January 1, 2021) Dividends (paid on September 1, 2022) Accumulated depreciation- equipment Depreciation expense- equipment 90,000 20,000 45,000 9,000 Relevant exchange rates are given below: S.91 January 1, 2021 January 1, 2022 .93 February 1, 2022 .94 September 1, 2022 97 December 31, 2022 1.01 .95 Weighted Average 2022 Assume the functional currency is the U.S. dollar, compute the restated amount for sales for 2022 O a. $364,000 Ob.$372.000 O c. $380.000 O d. S360.00