Need assistance with accounting questions. Please show work.

See attachment

Problem 1 Alliance Corporation (an Australian company) invests 1,000,000 marks in a foreign subsidiary on January 1, year 1. The subsidiary commences operations on that date, and generates net income of 200,000 marks during its first year of operations. No dividends are sent to the parent this year. Relevant exchange rates between Alliance's reporting currency (A$) and the mark are as follows: January 1, Year 1 .................................................................A$0.15 Average, Year 1.......................................................................0.17 December 31, 1997....................................................................0.21 Required: Determine the amount of translation adjustment that Alliance will report on its December 31, Year 1, balance sheet. Problem 2 Zesto Company (a U.S. Company) establishes a subsidiary in Mexico on January 1, Year 1. The subsidiary begins the year with 1,000,000 Mexican pesos (MXN) in cash and not other assets or liabilities. It immediately uses MXN600,000 to acquire equipment. Inventory costing MXN300,000 is acquired evenly throughout the year and sold for Mex$5000,000 cash. A dividend of MXN100,000 is paid to the parent on October 1, Year 1. Depreciation on the equipment for the year is MXN60,000. Currency exchange rates between the U.S. dollar and MXN for Year 1 are as follows: January 1 ......................................................................................................U.S. $0.090 October 1.................................................................................................................0.080 December 31...........................................................................................................0.078 Average for the year...............................................................................................0.085 Required: Determine the amount of remeasurement loss under the temporal method to be recognized in the Year 1 consolidated income statement. Problem 3 new doc 2.pdf