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Business, 22.06.2019 08:00 egaitapierreval

Fenwicke company organized and began operating a subsidiary in a foreign country on january 1, 2015, by investing lcu 40,000. this subsidiary immediately borrowed lcu 100,000 on a five-year note with 10 percent interest payable annually beginning on january 1, 2016. the subsidiary then purchased for lcu 140,000 a building that had a 10-year anticipated life and no salvage value and is to be depreciated using the straight-line method. also on january 1, the subsidiary rents the building for three years to a group of local doctors for lcu 5,000 per month. by year-end, payments totaling lcu 50,000 had been received. on october 1, lcu 4,000 was paid for a repair made on that date. the subsidiary transferred a cash dividend of lcu 5,000 back to fenwicke on december 31, 2015. the functional currency for the subsidiary is the lcu. currency exchange rates for 1 lcu follow: january 1, 2015 $ 2.00 = 1 lcu october 1, 2015 1.85 = 1 average for 2015 1.90 = 1 december 31, 2015 1.80 = 1 prepare a statement of cash flows in lcu for fenwicke’s foreign subsidiary and then translate these amounts into u. s. dollars

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Fenwicke company organized and began operating a subsidiary in a foreign country on january 1, 2015,...
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