Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 153,000 kites (the local currency unit) and liabilities of 96,000 During this initial year of operation, the subsidiary reported a profit of 47,000 kites It distributed two dividends, each for 7,100 kites with one dividend declared on March 1 and the other on October 1 Applicable exchange rates for 1 kite follow January 1, 2017 (start of business) $0 79 March 1, 2017 0 77 Weighted average rate for 2017 0 76 October 1, 2017 0 75 December 31, 2017 0 74 Assume that the kite is this subsidiarys functional currency What translation adjustment would Board report for the year 2017 Assume that on October 1, 2017, Board entered into a forward exchange contract to hedge the net investment in this subsidiary On that date, Board agreed to sell 205,000 kites in three months at a forward exchange rate of $0 75 1 kite Prepare the journal entries required by this forward contract Compute the net translation adjustment for Board to report in accumulated other comprehensive income for the year 2017 under this second set of circumstances Required A Required B Required Assume that the kite is this subsidiary's functional currency What translation adjustment would Board report for the year 2017 Negative Translation adjustment Required A Required B Required A Required B Required C Assume that on October 1, 2017, Board entered into a forward exchange contract to hedge the net investment in this subsidiary On that date, Board agreed to sell 205,000 kites in three months at a forward exchange rate of $0 75 1 kite Prepare the journal entries required by this forward contract (If no entry is required for a transaction event, select No journal entry required in the first account field ) Show less View transaction lat Journal entry worksheet Record the entry for the Board being entered into a forward exchange contract Note Enter debits before credits General Journal Debit Credit Date 10 01 Record entry Clear entry View general Journal Required A Required B Required Compute the net translation adjustment for Board to report in accumulated other comprehensive income for the year 2017 under this second set of circumstances Net translation adjustment Negative

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Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 153,000 kites (the local currency unit) and liabilities

Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 153,000 kites (the local currency unit) and liabilities of 96,000. During this initial year of operation, the subsidiary reported a profit of 47,000 kites. It distributed two dividends, each for 7,100 kites with one dividend declared on March 1 and the other on October 1. Applicable exchange rates for 1 kite follow:


January 1, 2017 (start of business)	$0.79
March 1, 2017	0.77
Weighted average rate for 2017	0.76
October 1, 2017	0.75
December 31, 2017	0.74

Assume that the kite is this subsidiarys functional currency. What translation adjustment would Board report for the year 2017?
Assume that on October 1, 2017, Board entered into a forward exchange contract to hedge the net investment in this subsidiary. On that date, Board agreed to sell 205,000 kites in three months at a forward exchange rate of $0.75/1 kite. Prepare the journal entries required by this forward contract.
Compute the net translation adjustment for Board to report in accumulated other comprehensive income for the year 2017 under this second set of circumstances.

Required A Required B Required Assume that the kite is this subsidiary's functional currency. What translation adjustment would Board report for the year 2017? Negative Translation adjustment Required A Required B > Required A Required B Required C Assume that on October 1, 2017, Board entered into a forward exchange contract to hedge the net investment in this subsidiary. On that date, Board agreed to sell 205,000 kites in three months at a forward exchange rate of $0.75/1 kite. Prepare the journal entries required by this forward contract. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Show less View transaction lat Journal entry worksheet Record the entry for the Board being entered into a forward exchange contract. Note: Enter debits before credits General Journal Debit Credit Date 10/01 Record entry Clear entry View general Journal Required A Required B Required Compute the net translation adjustment for Board to report in accumulated other comprehensive income for the year 2017 under this second set of circumstances. Net translation adjustment Negative