Info
Warning
Danger
/ Homework Answers / Accounting / solve Bell Ltd. a US firm, paid

Question

solve

Bell Ltd. a US firm, paid $308,000 for all the common stock of Bangkok of Thailand on January 1. 2011. when the exchange rate for Bath was $0.35. Bangkok's equity on this date consisted of 500.000 Bath common stock and 300.000 Bath retained earnings. the $28,000 (80,000 Bath) excess attributable to a patent with 10 year amortization period. Bangkok's functional currency is Bat Bangkok's adjusted trial balance at December 31,2011, in Bath is at follows On January 2. 2011. Bell advanced $42,000 (120.000 Bath) to Bangkok. This advance was short term, denominated in US dollars, and made when the exchange rate for Bath was $0.35. In June 2011, Bankok paid a 100.000 Bath dividend when the exchange rate was S0.33. The average and year-end exchange rates for Bath an- $0 32 and $0.30 respectively. Prepare a worksheet to translate Bangkok's adjusted trial balance at December 31. 2011 into US dollars. Prepare the necessary journal entries for Bell to account for its investment in Bangkok for 2011.

 

Solution
5 (1 Ratings )

Solved
Accounting 2 Months Ago 106 Views
This Question has Been Answered!
Premium Content -

Welcome Back!

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Forgot?
Login
Don't have an account? Signup

Join ScholarOn

ScholarOn has more then 20 Million answers, flashcards & more being added everyday!

or
Signup
By registering, I agree to the Terms and Privacy Policies
Already have an account? Log in

Thank You For Registering

Please Vreify Your Email Address

Resend Link
Verification Mail Send Successfully. Please Check Your Email.

Forgot Password

Please enter your registered email to recieve the password reset link.

Send reset link
Already have an account? Log in
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!

d
Let us boost your grade together!

Get 24/7 homework help from Experts

Let our knowledge be your backup

1

Submit your homework question or assignment

2

Receive a quote & Make the Payment

3

Sit Back & Relax to Earn Better Grades!

Drag files here or Browse your Device

Maximum file size 10MB
17,475 Accounting Questions Answered! Get Answer

We are The Best Because

  • On Time Delivery
  • Plagiarism ReportFree
  • Unlimited RevisionsFree
  • 100% Privacy & Confidential
  • 24/7 Live Chat Support
4.9 (15875 Ratings)
You can communicate directly with your expert until the solution quality is delivered to your complete satisfaction.
Looking for writing help?
Did you know?

ScholarOn has more than 2 Million+ answers, textbook solutions & flashcards. Explore Now!