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:
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Order Paper NowCurrent 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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