REFERENCE: Ref.10_09 Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 94

Multiple Choice

REFERENCE: Ref.10_09
Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31,2008,have been restated into U.S.dollars as follows:
SHAPE \* MERGEFORMAT

-Assuming the functional currency of the subsidiary is the local currency,what total should be included in Parker's consolidated balance sheet at December 31,2008,for the above items?

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

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Definitions:

Price

The amount of money required to purchase a good or service.

Quantity

A specified amount or number of items.

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