Accountancy, asked by avisinghsandhu5361, 7 months ago

Mentor Co., a U.S. corporation, owned 100% of a Swiss corporation. The Swiss franc is the functional currency. The remeasurement of Mentor's financial statements resulted in a $25,000 gain at year end. The translation of the financial statements resulted in a $40,000 gain at year end. What amount should Mentor recognize as foreign currency gain in its income statement?

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Answered by kunalboss49

8

Explanation:

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