答案和详解如下： Q76. The level of net fixed assets on the 2002 balance sheet would be: A) $480. B) $462. C) $510. Correct answer is B) Net fixed assets are considered non-monetary assets. For non-monetary assets, the temporal method uses the historical rate: 600SF × 0.77$/SF = $462. Q77. The translation gain or loss on the income statement would be: A) $18. B) $25. C) $0. Correct answer is A) When using the temporal method, only cash, accounts receivable, accounts payable, current debt, and long-term debt are translated at the current rate. This means that exposure under the temporal method is: (cash + accounts receivable) − (accounts payable + current debt + long-term debt) The currency translation adjustment (CTA) is calculated as the sum of the flow effect and holding effect. Flow effect (in $) = change in exposure (in LC) × (ending rate − average rate) Holding gain/loss effect (in $) = beginning exposure (in LC) × (ending rate − beginning rate) Going back to our data in the example: Beginning exposure = 400 − 300 = 100 Ending exposure = 600 − 300 = 300 Change in exposure = 300 − 100 = 200 Flow effect (in $) = 200 × [$0.85 − $0.80] = 200 × [$0.05] = $10 Holding gain/loss effect (in $) = 100 × [$0.85 − $0.77] = 100 × [$0.08] = $8 Translation gain (in $) = flow effect + holding gain/loss effect = $10 + $8 = $18 Q78. The level of sales on the income statement would be: A) $5,390. B) $5,600. C) $5,950. Correct answer is B) Revenues and SG&A use the average exchange rate with both the temporal and current rate methods. 7000SF × 0.80$/SF = $5600 | 
发表于 2009-1-20 11:30
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