Note: This is a Kaplan CPA Review Question
Certain balance sheet accounts of a foreign subsidiary of Rowan, Inc. (Rowan) at December 31, 20X6, have been translated into U.S. dollars as follows:
The subsidiary's functional currency is the currency of the country in which it is located.
What total amount should be included in Rowan's December 31, 20X6 consolidated balance sheet for the above accounts?
A) $450,000
B) $475,000
C) $455,000
D) $495,000

Question

Note: This is a Kaplan CPA Review Question
Certain balance sheet accounts of a foreign subsidiary of Rowan, Inc. (Rowan) at December 31, 20X6, have been translated into U.S. dollars as follows: 
The subsidiary's functional currency is the currency of the country in which it is located.
What total amount should be included in Rowan's December 31, 20X6 consolidated balance sheet for the above accounts?
A) $450,000 
B) $475,000 
C) $455,000 
D) $495,000

Quizplus · Accepted Answer

The Answer of Note: This is a Kaplan CPA Review Question
Certain balance sheet accounts of a foreign subsidiary of Rowan, Inc. (Rowan) at December 31, 20X6, have been translated into U.S. dollars as follows: 
The subsidiary's functional currency is the currency of the country in which it is located.
What total amount should be included in Rowan's December 31, 20X6 consolidated balance sheet for the above accounts?
A) $450,000 
B) $475,000 
C) $455,000 
D) $495,000

Note: This Is a Kaplan CPA Review Question