Christina Company (a U. S.-based company) has a subsidiary in Canada that began operations at the start of 2020 with assets of 146,000 Canadian dollars (CAD) and liabilities of CAD 82000. During this initial year of operation, the subsidiary reported a profit of CAD 30,000. It distributed two dividends, each for CAD 5,400 with one dividend declared on March 1 and the other on October 1. Applicable U. S. dollar ($) exchange rates for 1 Canadian dollar follow:January 1, 2020 (start of business)$0.73March 1, 20200.71Weighted average rate for 20200.70October 1, 20200.69December 31, 20200.681. Assume that the Canadian dollar is this subsidiary’s functional currency. What translation adjustment would the company report for the year 2020?2. Assume that on October 1, 2020, Christina entered into a forward exchange contract to hedge the net investment in this subsidiary. On that date, the company agreed to sell CAD 240,000 in three months at a forward exchange rate of $0.69/CAD1. Prepare the journal entries required by this forward contract.3. Compute the net translation adjustment the company will report in accumulated other comprehensive income for the year 2020 under this second set of circumstances.

While information systems can be used to gain a strategic advantage, they have inherent risks. hershey foods, for example, crippled its halloween sales when its complex is system failed to support its supply and inventory needs during peak production season. this is an example of which specific is risk

The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?