Complete the 4 requirements with the appropriate details.

O NCERNS Part 2 MULTINATIONAL ACCOUNTING AND OTHER REPOR PROBLEMS Problem 11-1 (ID 6, 7) Remeasuring a trial balance and analyzing results. In order to demonstrate the use of the remeasurement process, assume that at the beginning of the year a U.S. parent company invested 100,000 foreign currency B (FCB) to form a 100% owned sub- sidiary. The subsidiary immediately invested the foreign currency in land at a cost of 50,000 FCB and inventory with a cost of 50,000 FCB. At midyear, 50% of the inventory was sold for 40,000 FCB. At year-end, assume that the sale is still uncollected. Although FCB is the subsidi ary's functional currency, the subsidiary maintains its books of record in foreign currency A (FCA). Assume the following exchange rates: End of Year 1 FCB equals ..... 1 FCA equals. ..... 1 FCA equals... 1 FCB equals..... Beginning of Year 12.5 FCA 0.08 FCB $0.20 $2.50 Mid Year 8 FCA 0.125 FCB $0.40 $3.20 10 FCA 0.10 FCB $0.30 $3.00 1. Prepare the entries to record the above transactions: (a) as they would have been recorded on the books of the subsidiary and (b) as they would have been recorded had they been recorded in terms of FCB. Also, prepare the trial balance that would have resulted under each of the recording models. 2. Prepare a schedule to remeasure the FCA trial balance into an FCB trial balance and then translate into U.S. dollars. 3. Prepare a schedule to directly calculate the translation adjustment to be reported in other comprehensive income. 4. Compare the remeasured FCB trial balance to the FCB trial balance in part (1) and com- ment regarding whether the objectives of translation have been achieved. Problem 11-2 (LO 6) Remeasure equity accounts and determine noncontrolling interest values. WTC Manufacturing, Inc., has an 80% interest in a foreign subsidiary Mofoco Manufacturing. Relevant details regarding WICs investment in Mofoco are as follows: Date of acquisition............ ....... ....................... .April 30 2016