On January $1,2021,$ Mikell acquired a foreign subsidiary whose local currency is the stickle. On

January $1,2021,$ Mikell issued common stock for $500,000.$ On July $14,2021,$ Mikell sold

equipment for $70,000($a loss of $40,000).$ On October $1,2021$ Mikell paid dividends of

$60,000.$ Mikell$$s operating revenues and expenses for $2021$ were $800,000$ and $650,000,$

respectively and were earned evenly throughout the year. Depreciation expense represented

$20,000$ of the $650,000.$ Currency exchange rates were as follows:

January $1,20211=$ $$\mathrm{.}5$

July $14,20211=$ $$\mathrm{.}58$

October $1,20211=$ $$\mathrm{.}48$

Average for $20211=$ $$\mathrm{.}52$

December $31,20211=$ $$\mathrm{.}47$

Required:

a$.$ Assume that the stickle was the functional currency of the subsidiary $($current

method$).$ Calculate the translation adjustment for this subsidiary for $2021.$

b$.$ Assume that the U$.$S$.$ dollar was the functional currency of the subsidiary $($temporal

method$).$ Calculate the remeasurement gain or loss for $2021.$ on a excel form $.$