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Transit Importing Company

Question 22

Multiple Choice

Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: 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: Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: 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 2014 is A) $910,860 B) $838,950 C) $805,860 D) $733,950 Translated net income for 2014 is


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

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