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maksim [4K]
3 years ago
5

Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 20,000 dinars,

accounts receivable of 80,000 dinars, and land that cost 200,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 150,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 120,000
dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a 100,000 dinar operating expense, which was immediately paid in cash. No other transactions occurred during the year.
Currency exchange rates for 1 dinar follow:
April 1, 2016 . . . . .. . $0.33 = 1 dinar
January 1, 2017 . . . . .. . . 0.36 = 1
May 1, 2017 . . . . . . . . .. . . 0.37 = 1
June 1, 2017 . . . . . .. . . . . 0.39 = 1
December 31, 2017 . . . . . 0.41 = 1
a. Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S.
dollar as its reporting currency. Assume also that the dinar is the subsidiary’s functional currency. What is the translation adjustment for this subsidiary for the year 2017?
b. Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S.
dollar as its reporting currency. Assume also that the U.S. dollar is the subsidiary’s functional currency. What is the remeasurement gain or loss for 2017?
c. Assume that Zugar is a foreign subsidiary of a U.S. multinational company. On the December 31, 2017, balance sheet, what is the translated value of the Land account? On the December 31, 2017, balance sheet, what is the remeasured value of the Land account?
Business
1 answer:
Rashid [163]3 years ago
7 0
A it just makes sense
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Answer:

The interpretation of the discussion is characterized throughout the interpretation section elsewhere here.

Explanation:

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3 years ago
Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues minus expenses) are
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Answer:

$12,240

Explanation:

Social security Tax = $80,000 x 12.4%

Social security Tax = $9,920

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Total tax = $12,240

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3 years ago
Compare a market operating at a quantity lower than equilibrium with the same market operating at the equilibrium quantity. Whic
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Answer:

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Explanation:

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3 years ago
Imagine that the U.S. economy has an initial unemployment rate equal to the natural rate of unemployment. Identify each event as
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Explanation:

Let’s explore one by one as proposed:

An oil cartel raises oil prices: all prices in the oil-related products will increase making it more expensive for companies to be able to afford employees. As the US economy is heavily based on oil import and consumption, the unemployment rate (let´s call it UR from now on) would increase. Countries that export more than import could benefit from this scenario.

The U.S. dollar gains value against foreign currencies: It would be more expensive to produce goods in the US as its currency becomes stronger. Hence companies could choose to produce overseas, increasing the UR. One of the factors that attract investments is a cheap currency, meaning that a company could operate there at lower costs than anywhere else.

American consumers expect higher income in the future: As fights about average salary would arise between employees and companies, igniting even sindicalization, its proper to think that the same as above could occur; companies could choose to produce overseas in countries less demanding of labor rights and income, such as China provinces (I would recommend for you to watch American Factory, a awarded Netflix documentary about that subject).

Brazil experiences economic growth and increases its demand for U.S. exports: as I said in the first alternative, a country that has increased or more expensive exports could benefit from that creating more jobs, in this case decreasing the UR. If Brazil demands more US products, more has to be produced by the country, which would mean more people employed in this attractive sector.

U.S. real estate values rise: to be honest, it only affects indirectly. As housing becomes more expensive, people have to work more to be able to afford housing. That would mean they seeking better-paying jobs or in the absence of those being homeless of at least unable to buy a home. We could argue that the UR would decrease because it becomes more expensive to afford housing and hence people would migrate more but that’s a long shot rationale.  

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3 years ago
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Answer:

Jessica's for AGI deduction for these costs is:

b. $14.00.

Explanation:

The aggregate gross income (AGI) can be defined as the total amount of income that an individual earns and is used in calculating the amount of income tax that an individual is liable to pay. The AGI can be expressed as follows;

AGI=T×N×W

where;

AGI=aggregate gross income

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In our case;

AGI=unknown, to be determined

T=$1.75

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Replacing;

AGI=(1.75×4×2)=$14.00

Jessica's for AGI deduction for these costs is:

b. $14.00.

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3 years ago
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