Quadros Incorporated, a Portuguese firm was acquired by a U.S. company on January 1, 2023....
50.1K
Verified Solution
Link Copied!
Question
Accounting
Quadros Incorporated, a Portuguese firm was acquired by a U.S. company on January 1, 2023. Selected account balances are available for the year ended December 31, 2024, and are stated in Euro, the local currency. Sales 400,000 Inventory (bought on February 1, 2024) 20,000 Equipment (bought on January 1, 2023) 90,000 Dividends (paid on September 1, 2024) 20,000 Accumulated depreciationEquipment 12/31/24 45,000 Depreciation expenseEquipment, 2024 9,000 Relevant exchange rates for 1 Euro are given below: January 1, 2023 $ 0.91 January 1, 2024 0.93 February 1, 2024 0.94 September 1, 2024 0.97 December 31, 2024 1.01 4th quarter average, 2023 0.90 4th quarter average, 2024 0.98 Average, 2024 0.95 Assume the functional currency is the U.S. Dollar; compute the
the U.S. balance sheet amount for accumulated depreciation for 2024.
Multiple Choice
$40,950
$41,850
$45,450
$42,750
$44,100
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.