Dover Company owns 90% of the capital stock of a foreign subsidiary located in Italy.Dover's accountant has just translated the accounts of the foreign subsidiary and determined that a debit translation adjustment of $80,000 exists.If Dover uses the fully adjusted equity method for its investment,what entry should Dover record in order to recognize the translation adjustment?
Definitions:
Lithosphere
The rigid outer layer of the Earth, consisting of the crust and the upper part of the mantle.
Rock and Soil Samples
Material collected from the Earth's surface or subsurface for analysis to understand geological and environmental conditions.
Fossil Fuels
Natural resources, such as coal, oil, and natural gas, formed from the remains of ancient plants and animals, used for energy.
Minerals
Naturally occurring, inorganic solid substances with a defined chemical composition and crystalline structure, found in the earth's crust.
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