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help Zugar Company is domiciled in a country whose currency is the dinar, Zugar begins 2020 with three assets: cash of 27800 dinars, accounts recelvable
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Zugar Company is domiciled in a country whose currency is the dinar, Zugar begins 2020 with three assets: cash of 27800 dinars, accounts recelvable of 81.900 dinars, and land that cost 219,000 dinars when acquired on Apri 1, 2019. On January 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 cosh. No other transactions occurred during the year. Currency exchange fates for 1 dinar follow: a. Assume that Zogar is a foreign subsidiary of a U.S. multinational company that uses the US. dollar as its reporting curtency. Assume also that the dinat is the subsidiary's functional currency. What is the translation adjustment for this subsidiary for the year 2020? b. Assume that Zugar is a foreign subsidiary of a U.S. multingtional company that uses the U.S. dollar as its reporting currency. Assume also that the US. dollar is the subsidiary's functional currency. What is the remeasurement gain or loss for 2020 ? c. Assume that Zugar is a foreign subsidiary of a U.S. multinational company. On the December 31,2020 , bolance sheet, what is the transiated value of the Land account? On the December 31,2020 , balance sheet, what is the remeasured value of the Land account? (finput all amounts as positive.) Step by Step Solution
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