also for question 5

Instructions: Prepare the journal entries on the dates listed (The company prepared monthly financial statements): 1. Assuming that on 9/15/2020 the option was exercised and inventory delivered and paid. 2. What if the spot rate on 9/15/2020 was 50.373 ? Problem V: Ameri Company acquired a subsidiary company in London on January 1, 2019 by buying all of the subsidiary's common stock. The subsidiary purchased the land for 650,000 pounds on November 22,2016 and the building for 420,000 pounds on July 1, 2019. The building is being depreciated over a 30 -year life by the straight-lin method. The inventory is valued on a LIFO basis. The beginning inventory was 150,000 pounds. Purchase of invent incurred evenly during the year. The British pound is the subsidiary's functional currency and its reporting currency and has not experienced any abnormal inflation. Exchange rates for the pound on various dates were: 11/22/20161 pound =$1.555 method. Instructiose Prepate the stubitaian 1. Transheisd woth B. Tratalated iticurtie statement C. Tramblated balance ebert Instructions: Prepare the journal entries on the dates listed (The company prepared monthly financial statements): 1. Assuming that on 9/15/2020 the option was exercised and inventory delivered and paid. 2. What if the spot rate on 9/15/2020 was 50.373 ? Problem V: Ameri Company acquired a subsidiary company in London on January 1, 2019 by buying all of the subsidiary's common stock. The subsidiary purchased the land for 650,000 pounds on November 22,2016 and the building for 420,000 pounds on July 1, 2019. The building is being depreciated over a 30 -year life by the straight-lin method. The inventory is valued on a LIFO basis. The beginning inventory was 150,000 pounds. Purchase of invent incurred evenly during the year. The British pound is the subsidiary's functional currency and its reporting currency and has not experienced any abnormal inflation. Exchange rates for the pound on various dates were: 11/22/20161 pound =$1.555 method. Instructiose Prepate the stubitaian 1. Transheisd woth B. Tratalated iticurtie statement C. Tramblated balance ebert