Question 13 1 pts On April 1, 19X6, Place Company paid $400,000 for all the issued and outstanding common stock of Show Corporation in a transaction properly accounted for as a purchase. Show Corporation was dissolved. Show's book shows assets and liabilities on April 1, 19X6, as follows: Cash $ 40,000 Inventory 120,000 Property and equipment (net of accumulated depreciation of $160,000) 240,000 Liabilities (90,000) On April 1, 19X6, the current value of Show's inventory was $95,000, and its property and equipment (net) had a current value of $280,000. What is the amount of goodwill as a result of the business combination? O S-0- O $25,000 O $75,000 O $90,000Question 15 1 pts Balaji Corporation. of India is an 90 percentowned subsidiary of Porter Corporation__ a US. firm. and its Functional currency is the US. dollar. Balaji=s books of record are maintained in Rupee and its inventory is carried at the lower of cost or market. The current exchange rate mpees at Dec. 31= 19X8 is 3 48 The historical cost ofthe inventory is 12.000 Rupees. The market value ofthe inventory is 11.000 Rupees. The historical exchange rate is $.43. Assuming that the functional currency in the above problem is the Indian Rupees rather than U. S. dollar= The 3 amount of inventory that will be reported in the translated statement is: 0 11000 x 8.48 = S 5360 0 11.000 * $.48 = $ 5.280 0 11000 x 8.43 = S 5:160 0 11.000 * $.43 = $ 4.?30 Question 7 1 pts Assume that U.S. parent company ABC has a subsidiary XYZ in Outer Mongolia. XYZ's total assets are as follows in Mongolian marks (assuming Mongolian currency is the functional currency): Cash and receivables 500,000 Inventory 500,000 Fixed assets (net) 900,000 The relevant exchange rates are: OMM 1.6800 closing rate on the balance sheet date OMM 1.5500 exchange rate when the fixed assets were acquired OMM 1.6300 average exchange rate for the period OMM 1.6600 average exchange rate when ending inventory was acquired. What is the total value of assets if the functional currency is the Outer Mongolian mark? O $1,130,952 O $1,179,469 O $1,175,883 O $1,185,012 O $3,192,000