Which situation will the us parent remeasure the financial

Assignment Help Accounting Basics
Reference no: EM132838003

Problem 1: A U.S. parent has a subsidiary located in Hong Kong. In which situation will the U.S. parent remeasure the financial statements of the subsidiary from Hong Kong dollars to U.S. dollars?

a. The subsidiary's customers are mostly located in Hong Kong.

b. The subsidiary borrows money from Hong Kong banks.

c. The subsidiary buys most of its merchandise from Hong Kong suppliers.

d. The level of inflation in Hong Kong is extremely high.

Reference no: EM132838003

Questions Cloud

Implement a behavioral self-management program : What are some problems in trying to implement a behavioral self-management program? How can managers attempt to overcome these problems?
What is the market interest rate on debt : What is the market interest rate on C2's debt, and what is the component cost of this debt for WACC purposes? What is the firm's cost of preferred stock
Define motivation : 1) Define Motivation 2) List some ways in which an organization can motivate its employees.
Financing Health Services : Analyze the various types of reimbursement received for healthcare services and the effect on the financial operations of a healthcare organization
Which situation will the us parent remeasure the financial : Which situation will the U.S. parent remeasure the financial statements of the subsidiary from Hong Kong dollars to U.S. dollars?
Compare best international attributes : International business has accelerated significantly over the past decade, assess the global phenomenon comparing the pre and post evolutionary changes
Which statement is false concerning eliminating entry : The subsidiary charged the parent $750,000 for the services. Which statement is false concerning eliminating entry (I) related to these intercompany services?
Name controls within the system development life cycle : 1 Name 2 controls within the system development life cycle, and explain how they could support an IT control objective.
What should the company report : Subsequently, the company sells 100 shares of this treasury stock for $23 per share. What should the company report as additional paid-in capital

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the dividends in arrears

Assume that the maximum cash dividend the company can pay in 2017 is $212,000, determine the dividends in arrears, if any, at December 31, 2017

  How are items in the schedule c net income

Determine the Schedule C net income. How are items not included in the Schedule C net income reported

  Complete the consolidated statements workpaper for pruin

Complete the consolidated statements workpaper on the next page for Pruin Corporation and Satto Corporation for December 31, 2017

  Conduct a regression analysis on the prior year data

Conduct a regression analysis on the prior year data. What independent variable (clients or employees) is a better predictor of total company cost?

  What is the operating cost benefit for a company

What is the operating cost benefit for a company owned or company leased automobile which was driven 15,000 personal kilometers

  Explain gagnon company quality cost report

Prepare a Quality Cost Report in good form with separate sections for prevention costs, appraisal costs, internal failure costs, and external failure costs.

  What amount should dixon report for interest payable

Interest is paid every April 1 and October 1. What amount should Dixon report for interest payable in its December 31, Year 1 balance sheet

  Prepare the journal entries related to the transactions

On January 1, 2019, Accounting For You Professional Corporation had $ 2,000,000 of common shares. Prepare the journal entries related to the transactions

  Discuss the internal control structure of the organization

What weaknesses existed in the internal control structure of the organization

  Identify the transactions and determine the account balances

Identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.

  Which difference do you think is more important

What are the major differences between IFRS and US GAAP in the translation of foreign currency financial statements? Which difference do you think is more.

  Compute the amount of net income or net loss

Compute the amount of net income or net loss that Lilly should report for 2011, taking into consideration Lilly's security transactions for 2011.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd