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ACG 4201 Week 11 Individual Work
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IMPORTANT: To understand and do this work correctly and
adequately, you MUST review and understand chapter 11 in its
entirety, including the examples, illustrations, journal entries, and
REFLECTIONS. Also, you should review Week 11 Learning
Activities practice problems. Specifically, you should review and
understand the section “Basic Translation Process: Functional
Currency to Reporting Currency” starting on page 612 of the book.
Problem 11-3 is divided into two parts. Part 1 is to translate Sorenson
Company’s (the subsidiary) trial into the USD. Part 2 is to prepare the
consolidated financial statements of Pueblo Company and Sorenson