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Maxim Importing Company

Question 25

Multiple Choice

Maxim Importing Company. converts its foreign subsidiary financial statements using the translation process. The company's French subsidiary reported the following for 2011: revenues and expenses of 10,500,000 and 6,505,000 francs, respectively, earned or incurred evenly throughout the year, dividends of 500,000 francs were paid during the year. The following exchange rates are available:
Maxim Importing Company. converts its foreign subsidiary financial statements using the translation process. The company's French subsidiary reported the following for 2011: revenues and expenses of 10,500,000 and 6,505,000 francs, respectively, earned or incurred evenly throughout the year, dividends of 500,000 francs were paid during the year. The following exchange rates are available: Translated net income for 2011 is A) $733,950. B) $805,860. C) $838,950. D) $910,860.
Translated net income for 2011 is


A) $733,950.
B) $805,860.
C) $838,950.
D) $910,860.

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