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胖胖 · 2023年09月07日

LT debt

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NO.PZ202304050100007601

问题如下:

(1) After translating Consol-Can’s inventory and long-term debt into the parent company’s currency (US$), the amounts reported on Consolidated Motor’s financial statements on 31 December 20X2 would be closest to (in millions):

选项:

A.

$71 for inventory and $161 for long-term debt.

B.

$71 for inventory and $166 for long-term debt.

C.

$73 for inventory and $166 for long-term debt.

解释:

When the parent company’s currency is used as the functional currency, the temporal method must be used to translate the subsidiary’s accounts. Under the temporal method, monetary assets and liabilities (e.g., debt) are translated at the current (year-end) rate, nonmonetary assets and liabilities measured at historical cost (e.g., inventory) are translated at historical exchange rates, and non-monetary assets and liabilities measured at current value are translated at the exchange rate at the date when the current value was determined. Because beginning inventory was sold first and sales and purchases were evenly acquired, the average rate is most appropriate for translating inventory and C$77 million × 0.92 = $71 million. Long-term debt is translated at the year-end rate of 0.95. C$175 million × 0.95 = $166 million.

Why is LT debt considered a monetary liability?


Isn't long-term debt a non-monetary liability?

1 个答案

王园圆_品职助教 · 2023年09月07日

同学你好,因为monetary和non-monetary是相对比较普遍的概念,助教这里直接截取了Google搜索的结果给你参考

简单来说,要被定义为是monetary,那就说明该项目的金额是固定的,不会由于通胀等原因发生变动——而long-term debt就完全符合该定义,因为它的金额不会因为通胀发生变化

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