(Answered) Suppose an american subsidiary of uk company showedcurrent

Management Studies

Suppose an American subsidiary of UK company showed:

Current assets of dollar 5 million;
Current liabilities of dollar 4 million;
Total assets = dollar 7.2 million;
Total liabilities = dollar 8.2 million

If the dollar depreciated during that year from £0.7538 to £0.7500.

Under FASB-52, what is the translation gain (loss) in pound if dollar is the functional currency?

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