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Global Trading Company

Question 23

Multiple Choice

Global Trading Company.converts its foreign subsidiary financial statements using the translation process.The company's Swiss subsidiary reported the following for 2014: revenues and expenses of 13,220,000 and 6,672,000 Swiss francs,respectively,earned or incurred evenly throughout the year,dividends of 2,000,000 Swiss francs were paid during the year.The following exchange rates are available: Global Trading Company.converts its foreign subsidiary financial statements using the translation process.The company's Swiss subsidiary reported the following for 2014: revenues and expenses of 13,220,000 and 6,672,000 Swiss francs,respectively,earned or incurred evenly throughout the year,dividends of 2,000,000 Swiss francs were paid during the year.The following exchange rates are available: Translated net income for 2014 is A) $891,408. B) $809,544. C) $1,283,408. D) $1,165,544. Translated net income for 2014 is


A) $891,408.
B) $809,544.
C) $1,283,408.
D) $1,165,544.

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