The assets listed below of a foreign subsidiary have been converted to U.S. dollars at both current and historical exchange rates. Assuming that the local currency of the foreign subsidiary is the functional currency, what total amount should appear for these assets on the U.S. company's consolidated balance sheet?
A) $636,000
B) $648,000
C) $708,000
D) $960,000

Question

The assets listed below of a foreign subsidiary have been converted to U.S. dollars at both current and historical exchange rates. Assuming that the local currency of the foreign subsidiary is the functional currency, what total amount should appear for these assets on the U.S. company's consolidated balance sheet? 
A) $636,000 
B) $648,000 
C) $708,000 
D) $960,000

Quizplus · Accepted Answer

The Answer of The assets listed below of a foreign subsidiary have been converted to U.S. dollars at both current and historical exchange rates. Assuming that the local currency of the foreign subsidiary is the functional currency, what total amount should appear for these assets on the U.S. company's consolidated balance sheet? 
A) $636,000 
B) $648,000 
C) $708,000 
D) $960,000

The Assets Listed Below of a Foreign Subsidiary Have Been