Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 92

Multiple Choice

Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2021, have been restated into U.S. dollars as follows: Assuming the functional currency of the subsidiary is the local currency, what total should be included in Parker's consolidated balance sheet at December 31, 2021, for the above items?

• A) $407,500.
• B) $418,000.
• C) $396,000.
• D) $403,500.
• E) $398,500.

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Definitions:

Ozone "Hole"

A significant depletion of ozone in the stratosphere over Antarctica that occurs seasonally, attributed to certain man-made chemicals.

Antarctica

Antarctica is Earth's southernmost continent, containing the geographic South Pole and characterized by its vast ice sheets and extreme cold temperatures.

Ecological Restoration

The process of assisting the recovery of an ecosystem that has been degraded, damaged, or destroyed, aiming to return it to its original condition.

Extinction

The disappearance of a species from Earth, occurring when a species can no longer reproduce at replacement levels and dies out.