Two questions. Offering up all I can for both because they are important. Numbers 3 and 8. Thank you

On March 1, 2016 The American Company borrowed 1,000,000 euros when the euro was worth $1 This 3 year 10% loan pays interest each September 1 and March 1 On September 1, 2016 the Euro was worth $1.30 On December 31, the Euro was worth $1.33 On March 1, 2017 the euro was worth $1.28 on September 1, 2017 the Euro was worth $1.24 On December 31, 2017 the Euro was worth $1.19 On March 1, 2018 the Euro was worth $1.15 On September 1, 2018 the Euro was worth $1.10 On December 31, 2018 the Euro was worth $1.11 On March 1, 2019 the Euro was worth $1.08 REQUIRED MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR THE AMERICAN COMPANY FOR en the euro was worth $1.25 MERICAN COMPANY FOR 2016, 2017 AND 2018 On October 1, 2016 USA Company sold some chairs to Mexico Company for 500,000 pesos when was worth 10 cents. Payment is due April 1, 2017 On December 31, the peso is worth 8 cents On April 1, the peso is worth 11 cents and Mexico Company pays its bill REQUIRED: MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR USA COMPANY IN 2016 AND ompany for 500,000 pesos when the peso FOR USA COMPANY IN 2016 AND 2017 On October 1, 2016 USA Company sold some chairs to Mexico Company for 500,000 pesos when was worth 10 cents. Payment is due April 1, 2017 On October 2nd, USA enters into a forward contract when the 6 monthforward Use 12% for interest On December 31, the peso is worth 8 cents the 3 month forward rate is 1 peso = 7 cents On April 1, the peso is worth 11 cents and Mexico Company pays its bill REQUIRED: MAKE ALL THE NECESSARY JOURNAL ENTRIES FOR USA COMPANY IN 2016 AND Remember, USA entered into a covered forward contract on October 2 or 500,000 pesos when the peso n the 6 monthforward price was 1 peso = .09 cents e is 1 peso = 7 cents OMPANY IN 2016 AND 2017 ontract on October 2nd On 1/1/2013 The American Company purchased all of the stock of Japan Company f which was the book value of Japan Company's net assets On this date the yen was The 2016 financial statements of Japan Company is as follows; In yen following US GAAP Sales 13000000 cogs 7000000 gross profit 6000000 depreciation 1000000 other exp 2000000 net income 3000000 cash 6000000 a/r 5000000 inventory 3000000 land 2000000 equipment (net) 8000000 total assets 24000000 accts payable 16000000 common stock 4000000 retained earnings 4000000 total lia plus equity 24000000 other information retained earnings in dollars 1/1/2016 $55000 when equipment purhcased 1 yen = 2 cents when land purchased 1 yen = 4 cents average exchange rate 1 yen = 2.5 cents exchange rate 12/31/16 1 yen = 1.5 cents During the year Japan paid a 1,000,000 dividend when the yen was w balance in foreign currency translation account 12/31/15 credit $120 REQUIRED: WITH THE DOLLAR BEING THE FUNCTIONAL CURRENCY INCOME STATEMENT FOR 12/31/16 FOR JAPAN COMPA f Japan Company for 4,000,000 yen s date the yen was worth 1 cent s as follows; hen the yen was worth 2 cents 31/15 credit $12000 TIONAL CURRENCY PREPARE A BALANCE SHEET AND FOR JAPAN COMPANY IN DOLLARS On 1/1/2013 The American Company purchased all of the stock of Japan Company f which was the book value of Japan Company's netOn this date the yen was worth 1 c The 2016 financial statements of Japan Company is as follows; In yen following US GAAP Sales 13000000 cogs 7000000 gross profit 6000000 depreciation 1000000 other exp 2000000 net income 3000000 cash 6000000 a/r 5000000 inventory 3000000 land 2000000 equipment (net) 8000000 total assets 24000000 accts payable 16000000 common stock 4000000 retained earnings 4000000 total lia plus equity 24000000 other information retained earnings in dollars 1/1/2016 $55000 when equipment purhcased 1 yen = 2 cents when land purchased 1 yen = 4 cents average exchange rate 1 yen = 2.5 cents exchange rate 12/31/16 1 yen = 1.5 cents During the year Japan paid a 1,000,000 dividend when the yen was wort balance in foreign currency translation account 12/31/15 credit $12000 REQUIRED: WITH THE YEN BEING THE FUNCTIONAL CURRENCY PREPAR INCOME STATEMENT FOR 12/31/16 FOR JAPAN COMPANY I Japan Company for 4,000,000 yen yen was worth 1 cent follows; the yen was worth 2 cents 15 credit $12000 CURRENCY PREPARE A BALANCE SHEET AND APAN COMPANY IN DOLLARS Clinton and Schultz are equal partners in DEMO partnership and they have the following balance assets $500,000 Liabilities $300,000 Clinton Capital 150,000 Schultz capital 50000 They decide to bring in a new partner Sanders who pays $500,000 to be an equal partner A) make the journal entry the partnership makes if they use the bonus method B) make the journal entry the partneship makes if they use the goodwill metho Instead of giving the $500,000 to the partnership, Sanders gave $250,000 to each Clinton and Sc C) make the journal entry the partnership makes if they use the bonus method D) make the journal entry the partnership makes if they use the goodwill metho the following balance sheet: equal partner se the bonus method se the goodwill method o each Clinton and Schultz se the bonus method se the goodwill method Trump, Cruz and Kasich are partners in the TCK partnership Each partner gets 10% interest on their beginning of the year capital balance Trump gets a $50,000 salary and Cruz gets a $30,000 salary Profits and losses are: Trump 50% Cruz 30% and Kasich $20% Every year Kasich withdraws $12000 Trump and Cruz take their salary only On January 1st 2016 the partners had the following capital balances Trump $300,000 Cruz $400,000 Kasic $100,000 a partial income statement for 2016, 2017 and 2018 are as follows: 2016 2017 revenue 400,000 450,000 cost of goods sld 100,000 150,000 THE ONLY OTHER EXPENSES THE PARTNERSHIP HAS IS PARTNERSHIP INTEREST REQUIRED: ALLOCATE THE INCOME TO THE 3 PARTNERS IN 2016, 2017 AND 2018 DETERMINE THE CAPITAL BALANCE ON 12/31 2016, 2017 AND 2018 FOR EACH pital balance d 2018 are as follows: 2018 500000 430,000 P HAS IS PARTNERSHIP INTEREST AND SALARIES N 2016, 2017 AND 2018 2016, 2017 AND 2018 FOR EACH PARTNER THE PARTNERSHIP OF LIONS, TIGERS AND BEARS HAS BEEN EXISTED SINCE 1945, BUT NOW THEY HAVE DECIDED TO DISSOLVE THE PARTNERSHIP. PARTNERS SHARE PROFITS AND LOSSES EQUALLY THEIR JANUARY 1, 2016 BALANCE SHEET IS PRESENTED BELOW: CASH 50000 ACCOUNTS RECEIVABLE 100000 LAND 200000 EQUIPMENT NET 200000 PATENT 100000 TOTAL ASSETS 650000 ACCOUNTS PAYABLE 300,000 LIONS CAPITAL 200000 TIGERS' CAPITAL 120,000 BEAR'S CAPITAL 30000 A) ON JANUARY 1 WHAT IF ANY SAFE PAYMENTS CAN EACH OF THE PARTNERS TAKE? B) ON JANUARY 30TH THEY SOLD THE LAND FOR $120,000 IF NO PARTNERS TOOK ANY SAFE PAYMENTS ON JANUARY 1ST WHAT SAFE PAYMENTS CAN EACH C) ON FEBRUARY 28TH THE PARTNERSHIP SOLD THE RECEIVABLES FOR $90,000 IF SHE COULD, TIGERS WOULD HAVE TAKEN A SAFE PAYMENT AT THE END OF JANUARY WHAT SAFE PAYMENTS CAN EACH PARTNER NOW TAKE? D) ON MARCH 31ST THE PARTNERSHIP SOLD THE PATENT FOR $80,000 IF SHE COULD TIGERS WOULD HAVE TAKEN ANY A SAFE PAYMENT AT THE END OF FEBRUARY ON MARCH 31 WHAT CAN EACH PARTNER TAKE AS A SAFE PAYMENT? E) ON APRIL 30TH THE PARTNERSHIP SELLS THE EQUIPMENT FOR $10,000 AND PAYS OFF THE AC IF ALL PARTNERS ARE INSOLVENT, HOW MUCH DOES EACH PARTNER GET AT THE END OF THE PA F) USING THE INFORMATION FROM E): IF ANY ALL PARTNERS ARE SOLVENT AND CAN COVER AN DOES EACH PARTNER RECEIVE OR PAY AT LIQUIDATION? 1945, BUT NOW THEY ERS TAKE? PAYMENTS CAN EACH TAKE NOW? ES FOR $90,000 OF JANUARY ND OF FEBRUARY AND PAYS OFF THE ACCOUNTS PAYABLE AT THE END OF THE PARTNERSHIP? T AND CAN COVER ANY DEBTS HOW MUCH