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Pencil Company acquired a foreign subsidiary, Sharpie Company, on December 31,20x1. ...

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Accounting

Pencil Company acquired a foreign subsidiary, Sharpie Company, on December 31,20x1.
Assume that Sharpie Company is a self-sustaining subsidiary. Pencil is translating Sharpie's financial statements at December 31,20x2. Foreign exchange rates are as follows:
December 31,20x11 Euro = $1.19
December 31,20x21 Euro = $1.31
Average for 20x21 Euro = $1.25
June 1,20x21 Euro = $1.23
September 30,20x21 Euro = $1.35
Provide the following translated balance in Canadian dollars at December 31,20x2 for:
Account (FCU)20x220x1
Common Shares 15,00013,000
Common shares were issued on June 1,20x2
Do not include commas, dollar signs, negative signs or decimals in your response. Round to the nearest whole dollar.

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