Question 1: Suppose an American subsidiary of UK company showed: Current assets of dollar 5 million; Current liabilities of dollar 4.1 million; Total…

Question 1:
Suppose an American subsidiary of UK company showed:
​Current assets of dollar 5 million;
​Current liabilities of dollar 4.1 million;
​Total assets = dollar 7.2 million;
​Total liabilities = dollar 8.2 million
​If the dollar deprecated 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?
The Mexican subsidiary of US firm has current assets of Peso 1mn, long term assets of Peso 4mn, current liabilities of Peso 400,000 and long term liabilities of Peso 1.5mn. If the Peso appreciated during a year from $0.05249 to $0.05312. Under FASB-52, what is the translation gain (loss) in dollar if peso is the functional currency?
​The US subsidiary of Korean firm has current assets of $3.1mn, long term assets of $2mn, total liabilities of $3.5mn. If dollar depreciated during a year from Won1115.88/$ to Won1100/$. Under FASB-52, what is the translation gain (loss) in Korean Won if dollar is the functional currency?
Lecture 10







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