Translation and Remeasurement Gain and Loss $($b$)$ Assuming Asda's functional currency is the pound, prepare a schedule to compute the translation gain or loss for

Assume net assets on January $1,2017,$ amounted to $1,200$ million.

Instructions:

Use negative signs with answers to indicate a negative exposed position balance.

Use negative signs with answers to indicate an amount that reduces the exposed position balance.

Using the drop$-$down menu, select the appropriate answer to indicate a translation gain or translation loss.

Do not use a negative sign with your translation gain or translation loss answer.

Enter answers using all decimal places, if applicable $($do not round answers$).$

Asda is a British supermarket chain owned by Wal$-$Mart Stores, Inc. Assume that the following data relate to Asda's

activities for $2017($in millions$).$

Exchange rates $(\frac{\text{\$}}{})$ during $2017$ are:

$($a$)$ Assuming Asda's functional currency is the U$.$S$.$ dollar, prepare a schedule to compute the remeasurement gain or

loss for $2017$

Instructions:

Use negative signs with answers to indicate a negative exposed position balance.

Use negative signs with answers to indicate an amount that reduces the exposed position balance.

Using the drop$-$down menu, select the appropriate answer to indicate a remeasurement gain or remeasurement

loss.

Do not use a negative sign with your remeasurement gain or remeasurement loss answer.

Enter answers using all decimal places, if applicable $($do not round answers$).$