答案和详解如下： Correct answer is C) The easy way to answer this question is simply use the figure calculated for net income. Since the starting retained earnings was 0, the retained earnings on the 2002 balance sheet would have to equal net income.
We can check this by remeasuring our balance sheet at the appropriate rates and making sure that the retained earnings figure that makes the balance sheet balance is the same as net income. Note that since Scud is using the LIFO inventory assumption, older products are in inventory so the historical rate is appropriate. The current rate applies to all monetary assets and liabilities.
Scud Co. Int'l
Balance Sheet (in SF thousands)
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| Dec. 31, 2002 | Remeasured $ | Cash & A/R | 600 × 0.85 = | 10 | Inventory | 500 × 0.77 = | 385 | Net Fixed Assets | 600 × 0.77 | = 462 | Total Assets | 1,700 | 1,357 |
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| A/P | 200 × 0.85 = | 170 | Long-term debt | 100 × 0.85 = | 85 | Common Stock | 1,300 × 0.77 = | 1001 | Retained Earnings | 100 | 101 | Total Liabilities and Owner's Equity | 1,700 | 1,357 |
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发表于 2009-1-20 11:34
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