Hebert International has operations in Arrakis. The balance sheet for this divis

Question

Hebert International has operations in Arrakis. The balance sheet for this division in Arrakeen solaris shows assets of 54,000 solaris, debt in the amount of 25,000 solaris, and equity of 29,000 solaris. Assume the equity increases by 2,700 solaris due to retained earnings.

  

What will the balance sheet look like in Arrakeen solaris? (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

If the exchange rate at the end of the year is 1.62 solaris per dollar, what does the balance sheet look like in U.S. dollars? (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

  

Hebert International has operations in Arrakis. The balance sheet for this division in Arrakeen solaris shows assets of 54,000 solaris, debt in the amount of 25,000 solaris, and equity of 29,000 solaris. Assume the equity increases by 2,700 solaris due to retained earnings.

Explanation / Answer

Answer:

Balance sheet in Solaris In Solaris In Solaris Asset 56700 Equity 29000 Retained Earning 2700 Total Equity 31700 Debt 25000 Total Asset 56700 Total liabilities and equity 56700 Balance sheet in US $ In $ In $ Asset (56,700/1.62) 35000 Equity (Balancing figure) 19567.90 Debt (25,000/1.62) 15432.10 Total Asset 35000 Total liabilities and equity 35000

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