P9-28, P10-34, SENDELBACH CORPORATION Ledgers for subsidiary as of December 31, 2013 Main Operation – Canada Debit Credit (C$) (C$) Accounts payable Accumulated depreciation Buildings and equipment Cash Common stock Cost of goods sold Depreciation expense Dividends paid, 4/1/13 Gain on sale of equipment, 6/1/13 Inventory Notes payable – due in 2016 Receivables Retained earnings, 1/1/13 Salary expense Sales Utility expense Branch operation Totals Branch Operation – Mexico Debit Credit (Ps.) (Ps.) Accounts payable Accumulated depreciation Buildings and equipment Cash Depreciation expense Inventory (beginning-income statement) Inventory (ending-income statement) Inventory (ending-balance sheet) Purchases Receivables Salary expense Sales Main office Totals Additional information: Mexican building and equipment acquired when one peso was worth C$.25 Mexican main office account (equity account) balance on 12/31/13 Currency exchange rates for Mexican operation: C$ Ps. Weighted average, 2012 January 1, 2013 Weighted-average rate for 2013 December 31, 2013 Cumulative translation adjustment (credit) on December 31, 2012 consolidated balance sheet Subsidiary’s common stock issued when exchange was $.45=C$1 Subsidiary retained earnings at Dec. 31, 2012 Canadian dollar Translated figure Exchange rates for translation purposes: US$ C$ January 1, 2013 April 1, 2013 June 1, 2013 Weighted-average for 2013 December 31, 2013
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