a. Assuming the functional currency of the sales subsidiary is the U.S. dollar, prepare a schedule to compute the remeasurement gain or loss in 2023. Instructions: 1. Use negative signs with answers to indicate a negative exposed position balance. 2. Use negative signs with answers to indicate an amount that reduces the exposed position balance. 3. Using the drop-down menu, select the appropriate answer to indicate a remeasurement gain or remeasurement loss. 4. Do not use a negative sign with your remeasurement gain or remeasurement loss answer. 5. Enter answers using all zeros (do not abbreviate to millions or thousands). d. Globe's trial balance at December 31,2023, before year-end adjustments for its investment in the Lima subsidiary, is below. Prepare a working paper to consolidate the subsidiary, for each functional currency alternative. Instructions for Consolidation Working Papers: - Use negative signs with Cr (credit balance) answers in the Dr(Cr) columns (not in the Credit column). - Enter answers using all zeros (do not abbreviate answers to millions or thousands). Translation and Remeasurement Gain or Loss Calculations and Consolidation account in Lima. At December 31, 2023, the subsidiary reports the following trial balance: Other than the equipment purchase, all other payments occurred evenly over the period. Required c. For each functional currency alternative, give the entry or entries made by Globe at year-end, assuming Globe uses the complete equity method to report its investment in the sales subsidiary. Enter numerical answers using all zeros (do not abbreviate answers to millions or thousands). b. Assuming the functional currency of the subsidiary is the sol, prepare a schedule to compute the translation gain or loss in 2023. Instructions: 1. Use negative signs with answers to indicate a negative exposed position balance. 2. Use negative signs with answers to indicate an amount that reduces the exposed position balance. 3. Using the drop-down menu, select the appropriate answer to indicate a translation gain or translation loss. 4. Do not use a negative sign with your translation gain or translation loss answer. 5. Enter answers using all zeros (do not abbreviate to millions or thousands). \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \begin{tabular}{l} Globe \\ Dr (Cr) \end{tabular} & & \begin{tabular}{c} Subsidiary \\ Dr (Cr) \end{tabular} & & & Debit & & Credit & & & \begin{tabular}{l} Consolidated \\ Balance \\ Dr (Cr) \end{tabular} \\ \hline Cash & $500,000 & $ & 3,000,000 & & & & & & & & 3,500,000 \\ \hline PP\&E & 22,000,000 & & 0x & x & & & & & & & 22,000,000 \\ \hline Investment in sub & 0x & & & & (C) & & x & & x & (E) & 0 \\ \hline Liabilities & (16,000,000) & & & & & & & & & & (16,000,000) \\ \hline Capital & (5,000,000) & & 0x & x & (E) & & x & & & & (5,000,000) \\ \hlineRE, beg & (2,000,000) & & & & & & & & & & (2,000,000) \\ \hline Revenues & (15,000,000) & & & & & & & & & & (15,000,000) \\ \hline Equity in NL & 0x & & & & & & & & x & (C) & 0 \\ \hline Expenses & 12,500,000 & & 0x & x & & & & & & & 12,500,000 \\ \hline \multirow[t]{2}{*}{ Remeasurement gain or loss } & & & 0x & x & & & & & & & 0x \\ \hline & 0 & $ & 0 & & & $ & x & 0 & x & & 0 \\ \hline \end{tabular} Translation consolidation: a. Assuming the functional currency of the sales subsidiary is the U.S. dollar, prepare a schedule to compute the remeasurement gain or loss in 2023. Instructions: 1. Use negative signs with answers to indicate a negative exposed position balance. 2. Use negative signs with answers to indicate an amount that reduces the exposed position balance. 3. Using the drop-down menu, select the appropriate answer to indicate a remeasurement gain or remeasurement loss. 4. Do not use a negative sign with your remeasurement gain or remeasurement loss answer. 5. Enter answers using all zeros (do not abbreviate to millions or thousands). d. Globe's trial balance at December 31,2023, before year-end adjustments for its investment in the Lima subsidiary, is below. Prepare a working paper to consolidate the subsidiary, for each functional currency alternative. Instructions for Consolidation Working Papers: - Use negative signs with Cr (credit balance) answers in the Dr(Cr) columns (not in the Credit column). - Enter answers using all zeros (do not abbreviate answers to millions or thousands). Translation and Remeasurement Gain or Loss Calculations and Consolidation account in Lima. At December 31, 2023, the subsidiary reports the following trial balance: Other than the equipment purchase, all other payments occurred evenly over the period. Required c. For each functional currency alternative, give the entry or entries made by Globe at year-end, assuming Globe uses the complete equity method to report its investment in the sales subsidiary. Enter numerical answers using all zeros (do not abbreviate answers to millions or thousands). b. Assuming the functional currency of the subsidiary is the sol, prepare a schedule to compute the translation gain or loss in 2023. Instructions: 1. Use negative signs with answers to indicate a negative exposed position balance. 2. Use negative signs with answers to indicate an amount that reduces the exposed position balance. 3. Using the drop-down menu, select the appropriate answer to indicate a translation gain or translation loss. 4. Do not use a negative sign with your translation gain or translation loss answer. 5. Enter answers using all zeros (do not abbreviate to millions or thousands). \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \begin{tabular}{l} Globe \\ Dr (Cr) \end{tabular} & & \begin{tabular}{c} Subsidiary \\ Dr (Cr) \end{tabular} & & & Debit & & Credit & & & \begin{tabular}{l} Consolidated \\ Balance \\ Dr (Cr) \end{tabular} \\ \hline Cash & $500,000 & $ & 3,000,000 & & & & & & & & 3,500,000 \\ \hline PP\&E & 22,000,000 & & 0x & x & & & & & & & 22,000,000 \\ \hline Investment in sub & 0x & & & & (C) & & x & & x & (E) & 0 \\ \hline Liabilities & (16,000,000) & & & & & & & & & & (16,000,000) \\ \hline Capital & (5,000,000) & & 0x & x & (E) & & x & & & & (5,000,000) \\ \hlineRE, beg & (2,000,000) & & & & & & & & & & (2,000,000) \\ \hline Revenues & (15,000,000) & & & & & & & & & & (15,000,000) \\ \hline Equity in NL & 0x & & & & & & & & x & (C) & 0 \\ \hline Expenses & 12,500,000 & & 0x & x & & & & & & & 12,500,000 \\ \hline \multirow[t]{2}{*}{ Remeasurement gain or loss } & & & 0x & x & & & & & & & 0x \\ \hline & 0 & $ & 0 & & & $ & x & 0 & x & & 0 \\ \hline \end{tabular} Translation consolidation