Zugar Company is domiciled in a country whose currency is the dinar Zugar begins 2017 with three assets cash of 20,000 dinars, accounts receivable of 80,000 dinars, and land that cost 200,000 dinars when acquired on April 1, 2016 On January 1, 2017, Zugar has a 150,000 dinar note payable, and no other liabilities On May 1, 2017, Zugar renders services to a customer for 120,000 dinars, which was immediately paid in cash On June 1, 2017, Zugar incurred a 100,000 dinar operating expense, which was immediately paid in cash No other transactions occurred during the year Currency exchange rates for 1 dinar follow Livingston Company is a wholly owned subsidiary of Rose Corporation Livingston operates in a foreign country with financial statements recorded in goghs (GH), the companys functional currency Financial statements for the year of 2017 are as follows Income Statement For Year Ending December 31, 2017 Sales GH 270,000 Cost of goods sold (155,000 ) Gross profit 115,000 Less Operating expenses (54,000 ) Gain on sale of equipment 10,000 Net income GH 71,000 Statement of Retained Earnings For Year Ending December 31, 2017 Retained earnings, 1 1 17 GH 216,000 Net income 71,000 Less Dividends (26,000 ) Retained earnings, 12 31 17 GH 261,000 Balance Sheet December 31, 2017 Assets Cash GH 44,000 Receivables 116,000 Inventory 58,000 Property, plant and equipment (net) 339,000 Total assets GH 557,000 Liabilities and Equities Liabilities GH 176,000 Common stock 120,000 Retained earnings, 12 31 17 261,000 Total liabilities and equities GH 557,000 Additional Information The common stock was issued in 2010 when the exchange rate was $2 08 per GH property, plant, and equipment was acquired in 2011 when the rate was $2 00 per GH As of January 1, 2017, the retained earnings balance was translated as $396,520 The U S $ per GH exchange rates for 2017 follow January 1 $1 67 April 1 1 61 September 1 1 72 December 31 1 54 Weighted average 1 59 Inventory was acquired evenly throughout the year The December 31, 2016, balance sheet reported a translation adjustment with a debit balance of $85,000 Dividends were declared on April 1, 2017, and a piece of equipment was sold on September 1, 2017 Assume that the gogh is Livingston Company's functional currency Translate the 2017 foreign currency financial statements into the parents reporting currency, the U S dollar Assume that Zugar is a foreign subsidiary of a U S multinational company that uses the U S dollar as its reporting currency Assume also that the dinar is the subsidiarys functional currency What is the translation adjustment for this subsidiary for the year 2017 Assume that Zugar is a foreign subsidiary of a U S multinational company that uses the U S dollar as its reporting currency Assume also that the U S dollar is the subsidiarys functional currency What is the remeasurement gain or loss for 2017 Assume that Zugar is a foreign subsidiary of a U S multinational company On the December 31, 2017, balance sheet, what is the translated value of the Land account On the December 31, 2017, balance sheet, what is the remeasured value of the Land account

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Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 20,000 dinars, accounts receivable of

Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 20,000 dinars, accounts receivable of 80,000 dinars, and land that cost 200,000 dinars when acquired on April 1, 2016. On January 1, 2017, Zugar has a 150,000 dinar note payable, and no other liabilities. On May 1, 2017, Zugar renders services to a customer for 120,000 dinars, which was immediately paid in cash. On June 1, 2017, Zugar incurred a 100,000 dinar operating expense, which was immediately paid in cash. No other transactions occurred during the year. Currency exchange rates for 1 dinar follow:

Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recorded in goghs (GH), the companys functional currency. Financial statements for the year of 2017 are as follows:

Income Statement For Year Ending December 31, 2017
Sales	GH	270,000
Cost of goods sold		(155,000	)
Gross profit		115,000
Less: Operating expenses		(54,000	)
Gain on sale of equipment		10,000
Net income	GH	71,000

Statement of Retained Earnings For Year Ending December 31, 2017
Retained earnings, 1/1/17	GH	216,000
Net income		71,000
Less: Dividends		(26,000	)
Retained earnings, 12/31/17	GH	261,000

Balance Sheet December 31, 2017
Assets
Cash	GH	44,000
Receivables		116,000
Inventory		58,000
Property, plant and equipment (net)		339,000
Total assets	GH	557,000
Liabilities and Equities
Liabilities	GH	176,000
Common stock		120,000
Retained earnings, 12/31/17		261,000
Total liabilities and equities	GH	557,000

Additional Information

The common stock was issued in 2010 when the exchange rate was $2.08 per GH; property, plant, and equipment was acquired in 2011 when the rate was $2.00 per GH.
As of January 1, 2017, the retained earnings balance was translated as $396,520.
The U.S.$ per GH exchange rates for 2017 follow:


January 1	$1.67
April 1	1.61
September 1	1.72
December 31	1.54
Weighted average	1.59

Inventory was acquired evenly throughout the year.
The December 31, 2016, balance sheet reported a translation adjustment with a debit balance of $85,000.
Dividends were declared on April 1, 2017, and a piece of equipment was sold on September 1, 2017.

Assume that the gogh is Livingston Company's functional currency. Translate the 2017 foreign currency financial statements into the parents reporting currency, the U.S. dollar.

Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S. dollar as its reporting currency. Assume also that the dinar is the subsidiarys functional currency. What is the translation adjustment for this subsidiary for the year 2017?
Assume that Zugar is a foreign subsidiary of a U.S. multinational company that uses the U.S. dollar as its reporting currency. Assume also that the U.S. dollar is the subsidiarys functional currency. What is the remeasurement gain or loss for 2017?
Assume that Zugar is a foreign subsidiary of a U.S. multinational company. On the December 31, 2017, balance sheet, what is the translated value of the Land account? On the December 31, 2017, balance sheet, what is the remeasured value of the Land account?