Business, 27.11.2019 03:31 kekeke68

Rolfe company (a u. s.-based company) has a subsidiary in nigeria where the local currency unit is the naira (ngn). on december 31, 2016, the subsidiary had the following balance sheet (amounts are in thousands (000's)): cash ngn 16,000 notes payable ngn 20,000 inventory 10,000 common stock 20,000 land 4,000 retained earnings 10,000 building 40,000 accumulated depreciation (20,000 ) ngn 50,000 ngn 50,000 the subsidiary acquired the inventory on august 1, 2016, and the land and building in 2010. it issued the common stock in 2008. during 2017, the following transactions took place:

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