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  • Temporal Rate Method Balance Sheet Assets

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    linda daibes
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    1. The document presents the balance sheet and income statement of a company with assets and liabilities denominated in Euros and converted to US Dollars using various foreign exchange rates on different dates. 2. The balance sheet shows total assets of €11,930 converted to $21,756.80 and total liabilities and equity also equaling €11,930 converted to $21,756.80. 3. The income statement reports sales of €16,700 converted to $31,062, expenses of €13,410 converted to $24,872.80, and net income of €2,435 converted to $4,056.

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    interli 1

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    1. The document presents the balance sheet and income statement of a company with assets and liabilities denominated in Euros and converted to US Dollars using various foreign exchange rates on different dates. 2. The balance sheet shows total assets of €11,930 converted to $21,756.80 and total liabilities and equity also equaling €11,930 converted to $21,756.80. 3. The income statement reports sales of €16,700 converted to $31,062, expenses of €13,410 converted to $24,872.80, and net income of €2,435 converted to $4,056.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    19 views3 pages

    Temporal Rate Method Balance Sheet Assets

    Uploaded by

    linda daibes
    1. The document presents the balance sheet and income statement of a company with assets and liabilities denominated in Euros and converted to US Dollars using various foreign exchange rates on different dates. 2. The balance sheet shows total assets of €11,930 converted to $21,756.80 and total liabilities and equity also equaling €11,930 converted to $21,756.80. 3. The income statement reports sales of €16,700 converted to $31,062, expenses of €13,410 converted to $24,872.80, and net income of €2,435 converted to $4,056.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    temporal rate method

    foreign currency exchange rate dollar equivalent


    balance sheet
    assets
    cash € 1,150.00 1.9 $ 2,185.00
    A/R € 3,100.00 1.9 $ 5,890.00
    inventory (fifo) € 3,430.00 1.88 $ 6,448.40
    fixed assets € 4,900.00 1.7 $ 8,330.00
    acc. Depreciation -€ 720.00 1.7 $ -1,224.00
    intangable assets (patent) € 70.00 1.82 $ 127.40
    total € 11,930.00 $ 21,756.80

    liabilities and stockholders equity


    A/P € 1,385.00 1.9 $ 2,631.50
    due to patent € 1,310.00 1.9 $ 2,489.00
    long-term debt € 4,000.00 1.9 $ 7,600.00
    deffered taxes € 120.00 1.9 $ 228.00
    common stocks € 1,500.00 1.7 $ 2,550.00
    retained earnings € 3,615.00 _ $ 5,853.00
    translation adjustment $ 405.30
    total € 11,930.00 $ 21,756.80

    income statement
    sales € 16,700.00 1.86 $ 31,062.00
    expenses
    cost of sales -€ 11,300.00 $ -20,767.00
    general and adminstration -€ 1,600.00 1.86 $ -2,976.00
    deperciation -€ 280.00 1.7 $ -476.00
    interest -€ 20.00 1.82 $ -36.40
    transaction gain -€ 480.00 1.86 $ -892.80
    aggregate translation adj. gain (loss) € 125.00 1.86 $ -537.20
    income taxes( current + drfferd ) -€ 710.00 1.86 $ -1,320.60
    net income € 2,435.00 $ 4,056.00
    retained earning at 12/31/2010 € 1,480.00 $ 2,355.00
    dividends -€ 300.00 1.86 $ -558.00
    retained earning at 12/31/2011 € 3,615.00 $ 5,853.00

    1 net monetary assets = monetary assets - monetary liabilities


    -2565
    -256.5

    2 net income before dep .


    2735
    109.4

    3 inventory
    390

    4 dividends
    0.017391304347826

    cost of goods sold


    beg. = 3040 at 1.80 5472
    purchases= 11690 at 1.86 21743.4
    ending =3430 at 1.88 6448.4

    cogs= 20767

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