communication partner
FOREIGN CURRENCY TRANSLATION
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DATA TABLE |
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Dividends for 2012 |
700.000 |
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Exchange rate |
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Dates |
CDN$ = 1CF |
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Dezember 31, 2010 |
0,60 |
(acquisition & bonds) |
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Oktober 1, 2011 |
0,72 |
(beginning inventory) |
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Jänner 1, 2012 |
0,75 |
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November 1, 2012 |
0,83 |
(ending inventory) |
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Average rate, 2012 |
0,80 |
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Dezember 31, 2012 |
0,85 |
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Other relevant rates: |
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Acquisition of equipment |
0,60 |
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2012 retained earnings rate |
0,58 |
(current-rate method only) |
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WORKSHEET FOR TRANSLATION OF BALANCE SHEETS |
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CHOO CO. |
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Balance sheet |
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at December 31, 2012 |
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Current-rate |
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CF |
Rate |
CDN$ |
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Dr(Cr): |
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Cash |
500.000 |
0,75 |
375.000 |
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Accounts receivable |
300.000 |
0,75 |
225.000 |
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Inventory |
200.000 |
0,75 |
150.000 |
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Equipment (net) |
2.000.000 |
0,75 |
1.500.000 |
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Deferred exchange loss |
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0 |
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Total assets |
3.000.000 |
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2.250.000 |
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(Dr)Cr: |
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Accounts payable |
400.000 |
0,75 |
300.000 |
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Bonds payable |
1.800.000 |
0,75 |
1.350.000 |
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Common shares |
500.000 |
0,60 |
300.000 |
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Retained earnings |
300.000 |
0,58 |
175.000 |
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Cumulative trans. gain/loss |
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n/a |
125.000 |
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Total liabilities & equities |
3.000.000 |
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2.250.000 |
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CHOO CO. |
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Balance sheet |
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at December 31, 2012 |
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Current-rate |
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CF |
Rate |
CDN$ |
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Dr(Cr): |
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Cash |
200.000 |
0,85 |
170.000 |
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Accounts receivable |
400.000 |
0,85 |
340.000 |
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Inventory |
400.000 |
0,85 |
340.000 |
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Land |
500.000 |
0,85 |
425.000 |
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Equipment (net) |
1.700.000 |
0,85 |
1.445.000 |
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Deferred exchange loss |
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0 |
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Total assets |
3.200.000 |
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2.720.000 |
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(Dr)Cr: |
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Accounts payable |
500.000 |
0,85 |
425.000 |
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Bonds payable |
1.800.000 |
0,85 |
1.530.000 |
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Common shares |
500.000 |
0,60 |
300.000 |
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Retained earnings, 2012 |
300.000 |
n/a |
175.000 |
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Income, 2012 |
800.000 |
n/a |
640.000 |
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Dividends, 2012 |
-700.000 |
0,85 |
-595.000 |
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Cumulative trans. gain/loss |
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245.000 |
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Total liabilities & equities |
3.200.000 |
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2.720.000 |
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WORKSHEET FOR TRANSLATION OF INCOME STATEMENT |
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CHOO CO. |
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Income Statement |
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year ended December 31, 2012 |
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Current-rate |
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(Dr)Cr: |
CF |
Rate |
CDN$ |
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Sales |
3.000.000 |
0,80 |
2.400.000 |
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Cost of goods sold |
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Beginning inventory |
-200.000 |
0,80 |
-160.000 |
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Purchases |
-1.000.000 |
0,80 |
-800.000 |
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Ending inventory |
400.000 |
0,80 |
320.000 |
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-800.000 |
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-640.000 |
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Amortization |
-300.000 |
0,80 |
-240.000 |
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Other operating expenses |
-900.000 |
0,80 |
-720.000 |
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Interest expense |
-200.000 |
0,80 |
-160.000 |
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Exchange gains (loss) |
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0 |
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Total expenses |
-2.200.000 |
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-1.760.000 |
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Net income |
800.000 |
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640.000 |
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CALCULATION OF TRANSLATION GAIN/LOSS - CURRENT-RATE METHOD |
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CF |
Rate |
CDN$ |
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Calculated net assets, Dec 31, 2011 |
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475.000 |
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Actual net assets, Dec 31, 2011 |
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800.000 |
0,75 |
600.000 |
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Gain/loss from translation, 2011 |
125.000 |
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Net assets, Dec 31, 2011 |
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800.000 |
0,75 |
600.000 |
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Changes in net assets, 2012 |
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Net income |
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800.000 |
0,80 |
640.000 |
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Dividends |
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-700.000 |
0,85 |
-595.000 |
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Calculated net assets, Dec 31, 2012 |
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645.000 |
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Actual net assets, Dec 31, 2012 |
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900.000 |
0,85 |
765.000 |
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Gain/loss from translation, 2012 |
120.000 |
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Gain/loss from translation, 2011 |
125.000 |
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Cumulative translation gain/loss, Dec 31, 2012 |
245.000 |
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CONSOLIDATED FINANCIAL STATEMENTS - CURRENT RATE |
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BIM INC. |
CHOO CO. |
Eliminations |
Consolidation |
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(Dr)Cr: |
Dr. |
Cr. |
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Sales |
$ 5.000.000 |
$ 2.400.000 |
$ 7.400.000 |
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Investment Income |
640.000 |
640.000 |
0 |
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5.640.000 |
2.400.000 |
7.400.000 |
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Cost of goods sold |
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Beginning inventory |
-400.000 |
-160.000 |
-560.000 |
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Purchases |
-2.700.000 |
-800.000 |
-3.500.000 |
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Ending inventory |
500.000 |
320.000 |
820.000 |
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-2.600.000 |
-640.000 |
-3.240.000 |
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Amortization |
-500.000 |
-240.000 |
-740.000 |
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Other operating expenses |
-1.000.000 |
-720.000 |
-1.720.000 |
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Interest expense |
-300.000 |
-160.000 |
-460.000 |
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Total expenses |
-4.400.000 |
-1.760.000 |
-6.160.000 |
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Net income |
1.240.000 |
640.000 |
1.240.000 |
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Retained Earnings |
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Jan 1, 2012 |
140.000 |
175.000 |
175.000 |
140.000 |
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Dividends |
-650.000 |
-595.000 |
595.000 |
-650.000 |
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Dec 31, 2012 |
$ 730.000 |
$ 220.000 |
$ 730.000 |
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Cash |
$ 930.000 |
$ 170.000 |
$ 1.100.000 |
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Accounts receivable |
760.000 |
340.000 |
1.100.000 |
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Inventory |
500.000 |
340.000 |
840.000 |
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Land |
425.000 |
425.000 |
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Equipment (net) |
865.000 |
1.445.000 |
2.310.000 |
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Investment in Hilary |
765.000 |
0 |
765.000 |
0 |
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Total assets |
$ 3.820.000 |
$ 2.720.000 |
$ 5.775.000 |
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Accounts payable |
$ 345.000 |
$ 425.000 |
$ 770.000 |
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Bonds payable |
2.000.000 |
1.530.000 |
3.530.000 |
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Common shares |
500.000 |
300.000 |
300.000 |
500.000 |
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Retained earnings, 2012 |
730.000 |
220.000 |
730.000 |
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Cumulative trans. gain/loss |
245.000 |
245.000 |
245.000 |
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245.000 |
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Total liabilities & equities |
$ 3.820.000 |
$ 2.720.000 |
1.360.000 |
1.360.000 |
$ 5.775.000 |
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