Q38. On APJ's 2005 balance sheet, the level of accounts receivable is U.S. dollars would be:

A)   $110.

B)   $165.

C)   $132.

Q39. On APJ's 2005 balance sheet, the level of fixed assets in U.S. dollars would be:

A)   $234.

B)   $187.

C)   $156.

答案和详解如下：

Q38. On APJ's 2005 balance sheet, the level of accounts receivable is U.S. dollars would be:

A)   $110.

B)   $165.

C)   $132.

Correct answer is A)

Since the Australian $ is both the local and the functional currency, use the current rate method.

In the balance sheet, all accounts are translated at the current exchange rate, except for the common stock account, which is translated at the historical rate.

A/R (330 / 3) = 110

Q39. On APJ's 2005 balance sheet, the level of fixed assets in U.S. dollars would be:

A)   $234.

B)   $187.

C)   $156.

Correct answer is C)

Since the Australian $ is both the local and the functional currency, use the current rate method. In the balance sheet, all accounts are translated at the current exchange rate, except for the common stock account, which is translated at the historical rate.
Fixed Assets (468 / 3) = 156