perform a currency translation on the company financial statements using the conversion rate as of 12 31 2018 you will use the current rate method

Use the following rates for your company currency translation assignment:

Balance sheet:

Current Assets > year-end rate

Property Plant and Equipment > year-end from 10 years ago

Current Liabilities > year-end rate

Long-Term Liabilities > use year-end rate from 10 years ago

Equity > use year-end rate from 10 years ago

Retained Earnings > average of year-end rates for 5 years

Translation Adjustment Line = difference between total assets – total liabilities- equity-retained earnings

Income Statement:

Income > 12-month average

Expenses > 12-month average

 
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