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Bowman Company reported translation adjustments in its stockholders' equity section of $2,000,000. These adjustments were added to the other items disclosed in Bowman's stockholders' equity. Bowman's translation adjustments resulted from its 80% interest in the capital stock of a Danish subsidiary. Based upon the facts presented, which of the following statements is true?

a) The credits in dollars on the Danish trial balance exceeded the debits in dollars by $2,000,000.

b) The debits in dollars on the Danish trial balance exceeded the credits in dollars by $2,000,000.

c) The debits in dollars on the Danish trial balance exceeded the credits in dollars by $2,500,000.

d) The credits in dollars on the Danish trial balance exceeded the debits in dollars by $2,500,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947711

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