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Ramson Lid is a multinational company, with headquarters in USA Ramson manufactures safety equipment in...

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Accounting

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Ramson Lid is a multinational company, with headquarters in USA Ramson manufactures safety equipment in Australia. TSF Inc is a wholly owned subsidiary of Ramson Ltd and operates in the USA. TSF makes parts and materials for Ramson Ltd that are used in the safety equipment The information below was provided to Ramson Ltd, and Ramson has translated the information into dollars. Below is the trial balance for TSF Inc as at 31 December 2022 Required: A: Using the trial balance above, prepare a classified statement of financial position in the narrative format for Ramson Ltd as at 31 December 2022. B: TSF is a wholly owned subsidiary based in a foreign country. Identify and clearly describe 2 international accounting issues that Ramson Ltd faces as a result of having a subsidiary that operates in a foreign country

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