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Professor Company acquired a foreign subsidiary, Student Company, on December 31,20x1. ...

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Accounting

Professor Company acquired a foreign subsidiary, Student Company, on December $31, 20$ x $1 .$

Assume that Student Company is an integrated subsidiary. Professor is translating Students' financial statements at December $31, 20$ x $2 .$ Foreign exchange rates are as follows:

December $31, 20$ x $1 1$ Euro $=$ $ $1.22$

December $31, 20$ x $2 1$ Euro $=$ $ $1.30$

Average for $20$ x $2 1$ Euro $=$ $ $1.25$

June $1, 20$ x $2 1$ Euro $=$ $ $1.21$

September $30, 20$ x $2 1$ Euro $=$ $ $1.31$

Provide the following translated balance in Canadian dollars at December $31, 20$ x $2$ for:

$20$ x $2 20$ x $1$

Account $($ FCU $)$

Accounts receivable $12, 000 13, 000$

Do not include commas, dollar signs, negative signs or decimals in your response. Round to the nearest whole dollar.

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