Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:29 PM Q $ 453 Assignme X DSC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot me x + File/Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf * = DOCX 453 Assignment 5 2020 WT1-2.pdf 2 / 3 Save BUSI 493 JOB APPLICATION General...ysis.docx at anslated DOCX Question 3: (32 marks) We assignment 5 ences Mailings >> Tell me Shar On January 1, Year 2, Par Corporation of Canada paid FCU 7.0 million for 64% of the outstanding common shares of Sub Company of Sweden. On this date the fair values of Sub's identifiable assets and liabilities were equal to their carrying values. Sub's comparative balance sheets and Year 2 income statement are as follows: Sub Balance Sheet December 31 Po abca A Paragraph Styles Dictate for Year 2. CDN Dollars Cash, Accounts Receivable Inventory Plant and equipment (net) Year 2 FCU 7,590,000 1,830,000 4,790,000 FCU 14,210,000 Year 1 FCU 4,400,000 2,200,000 5,290,000 FCU 11,890.000 x 2.00 380,000 x 1.82 Accounts payable Note payable Common shares Retained earnings FCU 1,500,000 3,900,000 4,000,000 4,810,000 FCU 14.210,000 FCU 1,590,000 3,000,000 4,000,000 3.300.000 FCU 11.890,000 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 Sub Income Statement For the year ended December 31, Year 2 mila x 1.60 3,504,000 Sales Cost of Goods sold Depreciation expense Other expense Interest expense Net income FCU 9,600,000 5,700,000 500,000 1,300,000 400,000 FCU 1.700.000 $1,211,400 KENIX Following is the partial Balance Sheet of Par at December 31, Year 2: CDN Dollars 17,472,000 x 1.82 BUSI 405 IUT IUZ ZUZ... ZUZU-11-10 22 A tm Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:30 PM Q $ 453 Assignme X LBC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot ma X + File /Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf DOCX Following is the partial Balance Sheet of Par at December 31, Year 2: Save BUSI 493 JOB APPLICATION General...ysis.docx PAR at anslated DOCX Goodwill 50,000 We assignment 5 ences Mailings >> Tell me Shar Accounts payable Note payable Common shares Retained earnings $ 200,000 900,000 1,500,000 1,300,000 Po abca A Paragraph Styles Dictate for Year 2. CDN Dollars x 2.00 380,000 x 1.82 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 Other information: Exchange rates: Last quarter of Year 1 average January 1, Year 2 October 31, Year 2 Last quarter of Year 2 average Average for Year 2 December 31, Year 2 FCU 1 = $2.10 FCU 1 = $2.00 FCU 1 = $1.80 FCU 1 = $1.77 FCU 1 = $1.82 FCU 1 = $1.60 mila x 1.60 3,504,000 $1,211,400 . KENIX Sub Company declared and paid dividends totaling FCU 190,000 on October 31, Year 2. Sub purchased opening and ending inventory evenly over the 4th quarter of Year 1 and Year 2, respectively. CDN Dollars 17,472,000 x 1.82 BUSI 458 IUT IUZ ZUZ... ZUZU-11-10 22 Atat Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:30 PM Q $ 453 Assignme X DSC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot me x + File/Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf DOCX Save Sub purchased opening and ending inventory evenly over the 4th quarter of Year 1 and Year 2, respectively. BUSI 493 JOB APPLICATION General...ysis.docx at anslated DOCX REQUIRED: Show ALL calculations for FULL marks. Round to the nearest dollar We assignment 5 Part A. Assume self-sustaining relationship (functional currency is FCU). i) Calculate the translated comprehensive income. 4.5 marks ences Mailings >> Tell me Shar Po abca A ii) How much goodwill would appear on the consolidated balance sheet at December 31, Year 2? Assume there was a goodwill impairment loss of FCU 1,000,000 in Year 2 relating to the AD schedule. Hint: prepare the calculation for the exchange gain/loss on the translation of goodwill that would be included in accumulated other comprehensive income. 4 marks Paragraph Styles Dictate for Year 2. CDN Dollars iii) Prepare account balances for the liabilities and shareholders' equity portion of the consolidated balance sheet at December 31, Year 2. Your answer should include a detailed calculation of consolidated RE, accumulated other comprehensive income and noncontrolling interest. 10.5 marks x 2.00 380,000 x 1.82 Part B. Ignore your answers above and now assume an integrated relationship (i.e. functional currency is Canadian dollars). Prepare the translated income statement for Year 2. Hint: Translated NI = $2,065,100. 13 marks 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 mila x 1.60 3,504,000 $1,211,400 KENIX CDN Dollars 17,472,000 x 1.82 BUSI 403 IUTIUZ ZUZ... ZUZU-11-10 22 A tad Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:29 PM Q $ 453 Assignme X DSC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot me x + File/Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf * = DOCX 453 Assignment 5 2020 WT1-2.pdf 2 / 3 Save BUSI 493 JOB APPLICATION General...ysis.docx at anslated DOCX Question 3: (32 marks) We assignment 5 ences Mailings >> Tell me Shar On January 1, Year 2, Par Corporation of Canada paid FCU 7.0 million for 64% of the outstanding common shares of Sub Company of Sweden. On this date the fair values of Sub's identifiable assets and liabilities were equal to their carrying values. Sub's comparative balance sheets and Year 2 income statement are as follows: Sub Balance Sheet December 31 Po abca A Paragraph Styles Dictate for Year 2. CDN Dollars Cash, Accounts Receivable Inventory Plant and equipment (net) Year 2 FCU 7,590,000 1,830,000 4,790,000 FCU 14,210,000 Year 1 FCU 4,400,000 2,200,000 5,290,000 FCU 11,890.000 x 2.00 380,000 x 1.82 Accounts payable Note payable Common shares Retained earnings FCU 1,500,000 3,900,000 4,000,000 4,810,000 FCU 14.210,000 FCU 1,590,000 3,000,000 4,000,000 3.300.000 FCU 11.890,000 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 Sub Income Statement For the year ended December 31, Year 2 mila x 1.60 3,504,000 Sales Cost of Goods sold Depreciation expense Other expense Interest expense Net income FCU 9,600,000 5,700,000 500,000 1,300,000 400,000 FCU 1.700.000 $1,211,400 KENIX Following is the partial Balance Sheet of Par at December 31, Year 2: CDN Dollars 17,472,000 x 1.82 BUSI 405 IUT IUZ ZUZ... ZUZU-11-10 22 A tm Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:30 PM Q $ 453 Assignme X LBC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot ma X + File /Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf DOCX Following is the partial Balance Sheet of Par at December 31, Year 2: Save BUSI 493 JOB APPLICATION General...ysis.docx PAR at anslated DOCX Goodwill 50,000 We assignment 5 ences Mailings >> Tell me Shar Accounts payable Note payable Common shares Retained earnings $ 200,000 900,000 1,500,000 1,300,000 Po abca A Paragraph Styles Dictate for Year 2. CDN Dollars x 2.00 380,000 x 1.82 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 Other information: Exchange rates: Last quarter of Year 1 average January 1, Year 2 October 31, Year 2 Last quarter of Year 2 average Average for Year 2 December 31, Year 2 FCU 1 = $2.10 FCU 1 = $2.00 FCU 1 = $1.80 FCU 1 = $1.77 FCU 1 = $1.82 FCU 1 = $1.60 mila x 1.60 3,504,000 $1,211,400 . KENIX Sub Company declared and paid dividends totaling FCU 190,000 on October 31, Year 2. Sub purchased opening and ending inventory evenly over the 4th quarter of Year 1 and Year 2, respectively. CDN Dollars 17,472,000 x 1.82 BUSI 458 IUT IUZ ZUZ... ZUZU-11-10 22 Atat Chrome File Edit View History Bookmarks People Tab Window Help 54% 0 Sun Nov 22 10:30 PM Q $ 453 Assignme X DSC Synchronous URC BUSI 453 102 X C Get Homeworx * Search Result X G screenshot me x + File/Users/mihrayreyim/Downloads/453%20Assignment%205%202020%20WT1-2.pdf DOCX Save Sub purchased opening and ending inventory evenly over the 4th quarter of Year 1 and Year 2, respectively. BUSI 493 JOB APPLICATION General...ysis.docx at anslated DOCX REQUIRED: Show ALL calculations for FULL marks. Round to the nearest dollar We assignment 5 Part A. Assume self-sustaining relationship (functional currency is FCU). i) Calculate the translated comprehensive income. 4.5 marks ences Mailings >> Tell me Shar Po abca A ii) How much goodwill would appear on the consolidated balance sheet at December 31, Year 2? Assume there was a goodwill impairment loss of FCU 1,000,000 in Year 2 relating to the AD schedule. Hint: prepare the calculation for the exchange gain/loss on the translation of goodwill that would be included in accumulated other comprehensive income. 4 marks Paragraph Styles Dictate for Year 2. CDN Dollars iii) Prepare account balances for the liabilities and shareholders' equity portion of the consolidated balance sheet at December 31, Year 2. Your answer should include a detailed calculation of consolidated RE, accumulated other comprehensive income and noncontrolling interest. 10.5 marks x 2.00 380,000 x 1.82 Part B. Ignore your answers above and now assume an integrated relationship (i.e. functional currency is Canadian dollars). Prepare the translated income statement for Year 2. Hint: Translated NI = $2,065,100. 13 marks 17,472,000 9,700,600 2,366,000 342,000 728,000 4,715,400 *1.80 *1.82 mila x 1.60 3,504,000 $1,211,400 KENIX CDN Dollars 17,472,000 x 1.82 BUSI 403 IUTIUZ ZUZ... ZUZU-11-10 22 A tad