Question - Certain balance sheet accounts of a foreign subsidiary of Rose Company have been stated in U. S. dollars as follows:
Stated at
Current Rates Historical Rates
Accounts receivable current $200,000 $220,000
Accounts receivable long term $100,000 $110,000
Prepaid insurance $50,000 $55,000
Goodwill $80,000 $85,000
$430,000 $470,000
This subsidiary's functional currency is a foreign currency. What total should Roses balance sheet include for the preceding items?
$ 430,000.
$ 435,000.
$ 440,000.
$ 450,000.