Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

That US parent company ABC has a subsidiary XYZ in Outer Mongolia. XYZ's total assets are as follows in Mongolian marks:

• cash and receivables 500,000
• inventory 500,000
• fixed assets (net) 900,000

The relevant exchange rates are:

• OMM 1.6800 closing rate on the balance sheet date
• OMM 1.5500 exchange rate when the fixed assets were acquired
• OMM 1.6300 average exchange rate for the period
• OMM 1.6600 average exchange rate when ending inventory was acquired

What is the total value of assets if the functional currency is the Outer Mongolian mark?

a. $1,130,952
b. $1,179,469
c. $1,175,883
d. $1,185,012

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947270

Have any Question? 


Related Questions in Accounting Basics

Writing assignment cash and receivablesassignment

Writing Assignment: Cash and Receivables Assignment Goals: - Obtain research experience in the Accounting Standards Codification - Obtain experience using SEC filings and the SEC website - Practice writing concise accoun ...

Consumers choices are prey to subtle discrepancies that

Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these discrepancies is an important step in improving your decision making. As the readings fo ...

Forwards and options respond to each of the following

Forwards and Options Respond to each of the following questions (notice that there are main questions and sub-questions below some of the main questions - don't miss any!) 1. Suppose you enter into a long 6-month forward ...

Assignment1 government entity ccr 2 government entity power

Assignment 1.) Government Entity CCR 2.) Government Entity Power Point presentation Refer to www.agacgfm.org for information on the CCR. A CCR is a 4 page document summarizing information and creating a presentation for ...

Accounting discussiona local movie theater owner explains

Accounting Discussion A local movie theater owner explains to you that ticket sales on weekends and evenings are strong, but attendance during the weekdays, Monday through Thursday, is poor. The owner proposes to offer a ...

Del gato clinic deposits all cash receipts on the day when

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2015, its Cash account shows a(n) $14,287 debit balance. Del Gato ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference "Forecasting" Please respond to the following: • Assess the financial performance forecasting proc ...

Article critiqueuse the csu online library to locate and

Article Critique Use the CSU Online Library to locate and review a scholarly article found in a peer reviewed journal related to: Unions, Labor Relations, or International Human Resources Management. There is a minimum r ...

Expl principles of accountingdepartment Expl Principles of Accounting Department

Expl Principles of Accounting Department Responsibility • Why should responsibility for related transactions be divided among different departments or individuals? Do you agree the transactions should be divided? Why or ...

Accounting discussion questionsdq1review the provisions of

ACCOUNTING DISCUSSION QUESTIONS DQ1 Review the provisions of the Sarbanes-Oxley Act of 2002 to address the accounting scandals in the late 1990s and early 2000s (Enron, WorldCom, etc.). Identify the provisions that you b ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro