(Solved): Prepare Foreign Currency Trial Balance and Translate into USD Given data Kangaroo Limited Equity Acc ...

Prepare Foreign Currency Trial Balance and Translate into USD Given data Kangaroo Limited Equity Account BalancesDecember 31, 2023AUDUSDCommon stock30,000,00021,300,000Retained earnings8,000,0005,760,000Cumulative translation adjustment (debit balance) 842,400 Kangaroo Limited Trial BalanceDecember 31, 2024AUD DebitAUD CreditCash6,400,000 Accounts receivable14,000,000 Inventory32,000,000 Land9,000,000 Machinery and equipment30,000,000 Accumulated depreciation 6,000,000 Accounts payable 4,000,000 Notes payable 40,000,000 Common xtock 30,000,000givenRetained earnings, 1/1/24 8,000,000givenSales 180,000,000 Cost of goods sold160,000,000 Depreciation expense3,000,000 Rent expense4,000,000 Interest expense1,600,000 Dividends, 7/1/248,000,000 Total268,000,000268,000,000 Papua New Guinean Sales Office Trial BalanceDecember 31, 2024PGK DebitPGK CreditCash12,000,000 Accounts receivable20,000,000 Notes payable 20,000,000Sales 30,000,000Rent expense16,000,000 Interest expense2,000,000 Total50,000,00050,000,000 Exchange RatesAUD/PGKUSD/AUDJanuary 1, 20240.4000.690Average, 20240.3850.720July 1, 20240.3800.725December 31, 20240.3750.740 Required: a-1. Prepare the remeasurement of Papua New Guinean sales office PGK balances into AUD for December 31, 2024. a-2. Show the calculation of remeasurement loss, 2024. b-1. Prepare the translation of Kangaroo Limited AUD balances into USD for December 31, 2024. b-2. Show the calculation of cumulative translation adjustment for December 31, 2024. Required: Note: Use the cells A2 to C46 from the above information to complete this question. a-1. Prepare the remeasurement of Papua New Guinean sales office PGK balances into AUD for December 31, 2024.