Mikkeli oy acquired a brand name with an indefinite life in 2015 for 40,000 markkas. at december 31, 2017, the brand name could be sold for 35,000 markkas, with zero costs to sell. expected cash flows from the continued use of the brand are 42,000 markkas, and the present value of this amount is 34,000 markkas. assume that a foreign company using ifrs is owned by a company using u. s. gaap. thus, ifrs balances must be converted to u. s. gaap to prepare consolidated financial statements. ignore income taxes.

required:

prepare journal entries for this brand name for the year ending december 31, 2017, under (1) ifrs and (2) u. s. gaap.

prepare the entry(ies) that the u. s. parent would make on the december 31, 2017 and december 31, 2018 conversion worksheet to convert ifrs balances to u. s. gaap.

Acontractor was awarded a purchase order for commercial items for $1.5 million under the authority of far subpart 13.5. the purchase order was issued in november 2010 and containedall applicable clauses that were current as of the date of the purchase order. under the purchase order, the contractor is required to comply with a small business subcontracting plan that contains all of the required elements. which of the following is true? a.the contractor must submit a standard form 294, subcontracting report for individual contracts. b.the contractor must submit an individual subcontracting report through the electronic subcontracting reporting system (esrs). c.the contractor may submit either an sf 294 or report its subcontracting through esrs. d.the contractor is not required to submit any subcontracting reports.