On January $1,20$X$1,$ Par Company purchased all the outstanding stock of South Bay Company, located in Canada, for $$113,400.$ On Required A$1$

Required A$2$

Required B

Prepare a schedule showing the differential allocation and amortization for $20$X$1.$ The schedule should present both Canadian dollars and U$.$S$.$ dollars.

Note: Amounts to be deducted should be entered with a minus sign. Round "Exchange Rate" answers to $2$ decimal places and rest of answers to nearest whole dol

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$\backslash$table$[[$Income Statement:,Canadian Dollars,$\backslash$table$[[$Exchange$],[$Rate$]],$U$.$S$.$ Dollars$],[\backslash$table$[[$Plant and$],[$equipment$]],$Trademark,$\backslash$table$[[$Plant and$],[$equipment$]],$Trademark$],[,,,,,,,,,],[$Differential at date of acquisition:,C$,$$$,10,000,$C$,$$$,15,400\backslash$times $,0\mathrm{.}81,$$$,8,100,$$$,12,474],[$Amortization this period: $(10$ years$),,,(1,000),,,(1,540)\backslash$times $,0\mathrm{.}76,,(760),,(1,170)],[$Remaining balance:,C$,$$$,9,000,$C$,$$$,13,860,,$$$,7,340,$$$,11,304],[$Balance Sheet:$],[$Remaining balance on $12/31/$X$1$ translated at year$-$end exchange rates:,C$,$$$,9,000,$C$,$$$,13,860,0\mathrm{.}64,,5,760,,8,870],[$Difference to OCl $-$translation adjustment:,,,,,,,,$$,1,580,$$$,2,434]]$ Record the acquisition of South Bay Company.

Record the equity in income of the subsidiary.

Record the dividend from the foreign subsidiary.

Record the amortization of the differential.

Record the entry to recognize the translation adjustment

on the differential. Provide the entry required by Par to restate the $C$$$8,200$ in the Foreign Currency Units account into its year$-$end U$.$S$.$ dollar$-$

equivalent value.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your

answers to nearest whole dollar.Prepare a schedule showing the differential allocation and amortization for $20$X$1.$ The schedule should present both Canadian

dollars and U$.$S$.$ dollars.

Note: Amounts to be deducted should be entered with a minus sign. Round "Exchange Rate" answers to $2$ decimal places and

rest of answers to nearest whole dollar.

January $1,20$X$1,$ the direct exchange rate for the Canadian dollar $($C$$)$ was C $$1=$$$0\mathrm{.}81.$ South Bay's book value on January $1,20$X$1,$ was

$C$$$88,000.$ The fair value of South Bay's plant and equipment was $C$$$10,000$ more than book value, and the plant and equipment are

being depreciated over $10$ years with no salvage value. The remainder of the differential is attributable to a trademark, which will be

amortized over $10$ years.

During $20$X$1,$ South Bay earned C $$25,000$ in income and declared and paid $C$$$8,900$ in dividends. The dividends were declared and

paid in Canadian dollars when the exchange rate was $C$$$1=$$$0\mathrm{.}75.$ On December $31,20$X$1,$ Par continues to hold the Canadian

currency received from the dividend. On December $31,201,$ the direct exchange rate is $C$$$1=$$$0\mathrm{.}64.$ The average exchange rate

during $20$X$1$ was C $$1=$$$0\mathrm{.}76.$ Management has determined that the Canadian dollar is South Bay's appropriate functional currency.

Required:

a$.$ Prepare a schedule showing the differential allocation and amortization for $20$X$1.$ The schedule should present both Canadian

dollars and U$.$S$.$ dollars.

b$.$ Par uses the fully adjusted equity method to account for its investment. Provide the entries that it would record in $201$ for its

investment in South Bay for the following items:

c$.$ Prepare a schedule showing the proof of the translation adjustment for South Bay as a result of the translation of the subsidiary's

accounts from Canadian dollars to U$.$S$.$ dollars. Then provide the entry that Par would record for its share of the translation

adjustment resulting from the translation of the subsidiary's accounts.

d$.$ Provide the entry required by Par to restate the C $$8,900$ in the Foreign Currency Units account into its year$-$end U$.$S$.$ dollar$-$

equivalent value.

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Required A $1$

Required A$2$

Required B

Required C$1$

Required C$2$

Required D

Prepare a schedule showing the differential allocation and amortization for $20$X$1.$ The schedule should present both Canadian

dollars and U$.$S$.$ dollars.

Note: Amounts to be deducted should be entered with a minus sign. Round "Exchange Rate" answers to $2$ decimal places and

rest of answers to nearest whole dollar.

I NEED HELP FIXING THE INCORRECT $/$ INCOMPLETE PORTIONS LISTED IN THE PHOTOS BELOW.

I ALSO NEED HELP CALCULATING DIVIDENDS PAID FOR PAR COMPANY AND SUBSIDIARY.

THANK YOU!