Ch7

Question 1

What is the current rate?

Answer 1

BS date

Question 2

What is the historical rate

Answer 2

beg of the year rate

Question 3

What rate do assets use?(current method)

Answer 3

current rate

Question 4

What rate does liabilities use?(current method)

Answer 4

current rate

Question 5

What rate does Stockholders equity use(current method)

Answer 5

historical

Question 6

What rate does income stmt use? (current method)

Answer 6

avg

Question 7

For the temporal method what exchange rate does stockholders equity use?

Answer 7

historical

Question 8

For the temporal method what rate does cash and receviables use?

Answer 8

current

Question 9

For the temporal method what rate does marketable securities use?

Answer 9

current

Question 10

For the temporal method what rate does invty at cost use?

Answer 10

historical

Question 11

For the temporal method what rate does the invty at NRV use?

Answer 11

current

Question 12

For the temporal method what rate does prepaid expenses use?

Answer 12

historical

Question 13

For the temporal method what rate does PP&E use?

Answer 13

historical

Question 14

For the temporal method what rate do intangible assets use?

Answer 14

historical

Question 15

For the temporal method what rate do current liablities use?

Answer 15

current

Question 16

For temporal method what rate does deferred income use

Answer 16

historical

Question 17

For temporal method what rate does LT debt use?

Answer 17

current

Question 18

For the temporal method what rate does revenue use

Answer 18

avg

Question 19

For the temporal method what rate do most expenses use?

Answer 19

avg

Question 20

For the temporal method what rate does CGS use

Answer 20

historical

Question 21

For the temporal method what rate does DEPR use

Answer 21

historical

Question 22

For the temporal method what rate does amortization use

Answer 22

historical

Question 23

For the temporal method what asset accounts are use the current rate

Answer 23

• cash and receivables
• marketable securities
• invty @ NRV

Question 24

For the temporal method what asset accounts use the historical rate?

Answer 24

• Invty at cost
• prepaid expenses
• PPE
• Intangible assets

Question 25

For the temporal method what liabilities use the current rate

Answer 25

- current liab | - LT debt

Question 26

For the temporal method what liabilities use historical method

Answer 26

deferred income

Question 27

For the temporal method what does stockholders equity use?

Answer 27

historical

Question 28

For the temporal method what income stmt accounts use the avg rate

Answer 28

rev and most expenses

Question 29

for the temporal method what income stmt accounts use historical rate?

Answer 29

- CGS - depr of PPE - amortization

Question 30

For the temporal method what accounts are you solving for

Answer 30

CGS and remeasurement gain

Question 31

For the temporal method what is the rate for purchases and ending invty

Answer 31

purchases=avg | ending invty=date it was acq

Question 32

For the temporal method what rate does depr exp use?

Answer 32

historical

Question 33

For the temporal method what rate does other op expense use?

Answer 33

avg