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ACCT 559 Week 6 Homework

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P9-28, P10-34, SENDELBACH CORPORATION Ledgers for subsidiary as of December 31, 2013 Main Operation – Canada Debit Credit (C$) (C$) Accounts payable   Accumulated depreciation   Buildings and equipment   Cash   Common stock   Cost of goods sold   Depreciation expense   Dividends paid, 4/1/13   Gain on sale of equipment, 6/1/13   Inventory   Notes payable – due in 2016   Receivables   Retained earnings, 1/1/13   Salary expense   Sales   Utility expense   Branch operation   Totals   Branch Operation – Mexico   Debit Credit (Ps.) (Ps.) Accounts payable   Accumulated depreciation   Buildings and equipment   Cash   Depreciation expense   Inventory (beginning-income statement)   Inventory (ending-income statement)   Inventory (ending-balance sheet)   Purchases   Receivables   Salary expense   Sales   Main office   Totals   Additional information:   Mexican building and equipment acquired   when one peso was worth C$.25   Mexican main office account (equity account)   balance on 12/31/13   Currency exchange rates for Mexican operation:   C$ Ps. Weighted average, 2012   January 1, 2013   Weighted-average rate for 2013   December 31, 2013   Cumulative translation adjustment (credit) on   December 31, 2012 consolidated balance sheet   Subsidiary’s common stock issued when   exchange was $.45=C$1   Subsidiary retained earnings at Dec. 31, 2012   Canadian dollar   Translated figure   Exchange rates for translation purposes:   US$ C$ January 1, 2013   April 1, 2013   June 1, 2013   Weighted-average for 2013   December 31, 2013

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