Witten Publishing, a U

Essay

Witten Publishing, a U.S. multinational, has a subsidiary in Mexico with the following balance sheet (denominated in pesos).
The spot exchange rate is $0.097430/peso. The company's CFO has estimated the following average exchange rates for inventories, fixed assets, common stock, and retained earnings: $0.109240, $0.103580, $0.101160, and $0.121641, respectively. The subsidiary is classified as an integrated foreign entity. Translate the balance sheet into U.S. dollars, which is the reporting currency. (Hint: Depending upon the translation method used, all of the exchange rates may not be used.)
Financial statement translation Diff: T