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28 Sep 2019
Hamburger inc owns pasta inc a subsidiary in Italy which wasestablished January 1, 2010. Pastas balance sheet as of 12/31/10 in euros. Cash. 1,500 Accounts rec 1,600 Inventory 2,400 Fixed assets 9,000 Accumulated depreciation 1,000
Accounts payable 3,000 Long term debt 6,000 Capital stock. 3,000 Retained earnings 1,500
Pastas income statement items for 2010 in euros Sales 20,000 Cogs 14,000 SG&aexpenses 2,500 Depreciation expense 1,000 Interest expense 500 Income tax expense 500
There was no beginning inventory. Inventory is carried at cost wasacquired evenly during the last quarter of 2010 Purchases were made evenly throughout the yeAr. Fixed assets were acquired on January 1 2010 Capital stock was sold on January 1.2010 Exchange rates US dollar per Euro January 1,2010. $0.90 Average for 4th quarter 2010 $0.87 Average for 2010 $0.89 December 31,2010 $0.82
Show the income statement and balance sheet using the temporalmethod
Hamburger inc owns pasta inc a subsidiary in Italy which wasestablished January 1, 2010.
Pastas balance sheet as of 12/31/10 in euros.
Cash. 1,500
Accounts rec 1,600
Inventory 2,400
Fixed assets 9,000
Accumulated depreciation 1,000
Accounts payable 3,000
Long term debt 6,000
Capital stock. 3,000
Retained earnings 1,500
Pastas income statement items for 2010 in euros
Sales 20,000
Cogs 14,000
SG&aexpenses 2,500
Depreciation expense 1,000
Interest expense 500
Income tax expense 500
There was no beginning inventory. Inventory is carried at cost wasacquired evenly during the last quarter of 2010
Purchases were made evenly throughout the yeAr.
Fixed assets were acquired on January 1 2010
Capital stock was sold on January 1.2010
Exchange rates US dollar per Euro
January 1,2010. $0.90
Average for 4th quarter 2010 $0.87
Average for 2010 $0.89
December 31,2010 $0.82
Show the income statement and balance sheet using the temporalmethod
Hubert KochLv2
28 Sep 2019
