Boerkian Co Required:
Assume That Boerkian Was a Foreign Subsidiary of a (Stickles)

question 70

Essay

Boerkian Co. started 2013 with two assets: Cash of §26,000 (Stickles) and Land that originally cost §72,000 when acquired on April 4, 2010. On May 1, 2013, the company rendered services to a customer for §36,000, an amount immediately paid in cash. On October 1, 2013, the company incurred an operating expense of §22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary. Currency exchange rates were as follows: $\begin{array}{ll}\text { April } 4,2010 & \S 1=\$ .28 \\\text { January } 1,2013 & \S 1=\$ .29 \\\text { May } 1,2013 & \S 1=\$ .30 \\\text { October } 1,2013 & \S 1=\$ .31 \\\text { December } 31,2013 & \S 1=\$ .35\end{array}$ Required:
Assume that Boerkian was a foreign subsidiary of a U.S. multinational company and the local currency of the subsidiary (stickle) is the functional currency. On the December 31, 2013 balance sheet, what was the translated value of the Land account?

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Definitions:

Quality-Caring Model

A framework in nursing that emphasizes the importance of caring and relationships in achieving quality healthcare outcomes.

Middle-Range Theory

A type of theory in sociology and nursing that focuses on explaining phenomena at a level between the broadest theories and the most situational observations.

Grand Theory

A broad conceptual framework that attempts to interrelate fundamental aspects of the nursing discipline, providing a comprehensive perspective on nursing practice, education, and research.

Quality-Caring Model

A nursing theory focusing on the relationship between quality care and the wellbeing of patients through caring practices.