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Munich Bratwerst Company |
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balance sheet |
income statement |
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31-Dec 2016 |
in EU’s |
for the year 2016 |
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Cash |
10,000 |
sales |
1,500,000 |
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Accts rec |
40,000 |
cogs |
800,000 |
|
inventory |
50,000 |
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|
gross pro |
700,000 |
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equip net |
100,000 |
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land |
400,000 |
deprec exp |
100,000 |
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oper exp |
510,000 |
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tot asset |
600,000 |
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net income |
90,000 |
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accts pay |
50,000 |
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dividends of 40,000 eu paid 6/30 when 2eu=$1 |
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comm st |
400,000 |
december 31, 2016 4eu =$1 |
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average 2016 3 eu =$1 |
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ret earn |
150,000 |
June 1 1998 when stock acquired 1eu =$1 |
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October 1, 1998 when equip purchased 1.5eu =$1 |
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December 31, 2000 when land purchased 2eu=$1 |
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retained earnings 1-1-16 $68,000 |
- PREPARE A DOLLAR DENOMINATED: INCOME STATEMENT, BALANCE SHEET AND STATEMENT OF EQUITY IF THE DOLLAR IS THE FUNCTIONAL CURRENCY (TEMPORAL METHOD)
- PREPARE A DOLLAR DENOMINATED: INCOME STATEMENT, BALANCE SHEET AND STATEMENT OF EQUITY IF THE DOLLAR IS THE FUNCTIONAL CURRENCY (TEMPORAL METHOD)
