Boerkian Co

question 82

Essay

Boerkian Co. started 2011 with two assets: cash of §26,000 (stickles) and land that originally cost §72,000 when acquired on April 4, 2008. On May 1, 2011, the company rendered services to a customer for §36,000, an amount immediately paid in cash. On October 1, 2011, 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:
-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, 2011 balance sheet, what was the translated value of the Land account?

---

Definitions:

Social Necessity

Essential needs and requirements for individuals and societies to function and thrive, including shelter, healthcare, education, and security.

Gender Roles

Socially constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Cultural Standards

Refers to the norms and expectations that guide behaviors within a specific culture.

Self-Fulfilling Prophecy

The phenomenon whereby a person's or a group's belief or expectation brings about its own fulfillment, thus confirming the initial belief or expectation.