You are an accountant at Unicharm Corporation, a Japanese company that manufacturers pet care products along with many other products. Unircharm is looking into the possibility of buying Chewy, Inc. from Petsmart. Chewy is a Florida-based company and uses the US dollar as its functional and reporting currency. You work in the mergers & acquisitions department and your manager asks you to explore the effect of the potential acquisition on the company’s consolidated financial position.
Your job is to restate the financial statements of Chewy, Inc. into Japanese Yen for the year ended January 31, 2021, using the appropriate method: Translation.
Perform the calculation in the Excel file provided. Students can only modify the cells
highlighted in yellow.
o You do not need to edit any other cells in this excel file. If you do not need to
use a yellow cell you can leave it blank.
Show your work. Everything that you type into Excel must be a reference to another cell or a formula. Do NOT hard-key any numerical amounts.
o The only area where students will enter numbers is on the “Determination of Exchange Rates” tab where students must include the daily exchange rate data used to determine the relevant exchange rates.
You will need to obtain the relevant exchange rates. Use the following website to find the daily exchange rates. https://finance.yahoo.com/quote/JPY%3DX/history?p=JPY%3DX
Assume all transactions that should be converted using historical exchange rates took place on November 10, 2015.
The assignment is worth 20 points and will be graded based on accuracy.
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