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ACC - The Alpine Company




The Alpine Company is a Swiss subsidiary of an American company and its accounts are included in the U.S dollar consolidated statements of the parent company. At the year-end, the following balances were included in the foreign currency balance sheet of the Alpine Company. All amounts are expressed in Swiss Francs which are designated SF hereafter.;DR. CR.;Cash SF 400,000;Long-term receivables 500,000;Inventories 1,200,000;Plant and equipment 4,000,000;Accounts payable SF 300,000;Long-term Liabilities 1,500,000;Accumulated Depreciation 850,000;The long-term receivables and Plant and equipment were acquired several years ago when SF 1 = $0.80. The Long-term liabilities were also issued at this time. The inventories were acquired for SF 1,550,000 when SF 1 = $0.90. However, they are carried at their net realizable value as measured at the year-end. The exchange rate at the year-end date is SF 1 = $0.95.;Required;Translate the account balances for inclusion in the year-end consolidated balance sheet under the following general methods of translation.;A. Temporal Method;B. Current Rate Method


Paper#80774 | Written in 18-Jul-2015

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