Water Bottling Inc

question 31

Essay

Water Bottling Inc.(WBI)is a 100% wholly owned subsidiary with operations in France.WBI was purchased by a Canadian parent on January 1,20X5.The financial records of WBI are maintained in euros and provide the following information with respect to equipment,intangibles and goodwill.
Equipment - purchased on January 1,20X5 for €250,000 - depreciated over 5 years on a straight-line basis.
Equipment - purchased on January 1,20X6 for €175,000 - depreciated over 5 years on a straight-line basis.
Foreign exchange rates were as follows:
Required:
Assume that WBC's functional currency is the euro.Calculate the translated Canadian dollar balances for the following accounts for December 31,20X7
a.Equipment
b.Accumulated depreciation - equipment
c.Depreciation expense
d.Goodwill

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Definitions:

Cognitive Functioning

Pertains to the cognitive activities associated with acquiring understanding and knowledge, such as thought, recognition, memory, evaluation, and solving problems.

Old Age

A stage of life characterized by advanced age, often associated with retirement, increased health issues, and social changes.

Exercise

Physical activities that are planned, structured, and repetitive for the purpose of conditioning any part of the body.

Institutionalization

The process of becoming integrated into or adapted to the functioning and structure of an institutional or organized system, often resulting in dependency or loss of personal autonomy.