Sunrise Technological,Inc

question 8

Essay

Sunrise Technological,Inc.,a U.S.multinational producer of computer hardware,has subsidiaries located throughout the world.Sunrise Technology purchased Einstein Technology Company,a Swiss producer of computer hardware components,on January 1,2013.Einstein's financial statements are prepared and submitted in Swiss francs to Sunrise's headquarters.Einstein's adjusted trial balance at December 31,2014,is presented below:
Einstein Technology Company
Adjusted Trial Balance
December 31,2014
(in Swiss Francs)
Relevant exchange rates for 2014 and 2013 are as follows:

The statement of retained earnings for the year ended December 31,2013,is as follows (in U.S.dollars):

Required:
Prepare a translated statement of income and retained earnings,and a translated statement of financial position in U.S.dollars for Einstein Technology for 2014.

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Definitions:

Inspire Them

Motivate or encourage individuals to feel or act in a particular way, often towards achieving something positive.

Computer Science

The study of computers and computational systems, including their theory, design, development, and application.

Young Inventor

A young individual, often a child or teenager, who creates or devises a new device, process, or technique.

Fragment

A small part broken from or lacking in a complete whole, often referring to sentences that are not fully developed.