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help asap Zugar Company is domiciled in a country whose currency is the dinat. Zugar begins 2020 with three assets: cash of 27,800 dinors, accounts
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Zugar Company is domiciled in a country whose currency is the dinat. Zugar begins 2020 with three assets: cash of 27,800 dinors, accounts receivable of 81,900 dinars, and land that cost 219,000 dinars when acquired on April 1, 2019. On January 1, 2020, Zugar has a 169,000 dinar note payable, and no other liabilities. On May 1,2020, Zugar renders services to a customer for 139,000 dinars, which was immediately paid in cash. On June 1,2020, Zugar incurred a 119,000 dinar operating expense, which was immediately paid in cash. No other transactions occurred during the year Currency exchange rates for 1 dinar follow: B. Assume that Zugat is a foreign subsidiary of a US. multinational company that uses the U.S. dollar as its reporting currency. Assume olso that the dinor is the subsidiary's functional currency. What is the translation adjustment for this subsidiary for the year 2020 ? b. Assume that Zugor is a foreign subsidiary of a US multinational compony that uses the US, dollor as its reporting currency Assume also that the U.S. dollar is the subsidiary's functional currency. What is the remeasurement gain or loss for 2020? c. Assume that Zugar is a foreign subsidiory of o US. multinational company. On the December 31,2020 , balonce sheet, what is the translated value of the Land account? On the December 31, 2020, balance sheet, whot is the remeasured value of the Land account Step by Step Solution
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