Your business subsidiary in Brunei reports their financial information with their local currency (Brunei Dollar)(BND). The information is reported in Table 1. Translate the financial information of your Brunei subsidiary using the Current/Non-Current method, and Monetary / Non-Monetary Method. The Current/Spot Rate is BND 1 equal to MYR 3. The historical rate is BND 1 equal to MYR 3.5
Table 1 Financial Information from Subsidiary in Brunei
Cash
$2,500
Deposit in Bank
$1,050
Inventory
$5,000
Account Receivables
$3,500
Building
$51,000
Equipment
$38,000
Intangible Assets
$10,300
Account Payable
$4,800
Short-term Bank Loans
$15,000
Long Term Debt
$56,000
Sales
$70,000
COGS
$78,321
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