C https://blackboard.njcu.edu/webapps/assessment/take/l sp?course a nt_ida_397 571&course-da_22 510,1&content Remaining Time: 3 hours, 20 minutes, 24 seconds. v Question Completion Status: QUESTION 10 Kennedy Company acquired all of the outstanding common stock of Hastie Company of Canada for U.S. $350,000 on January 1, 2018, when the exchange rate for the Canadian dollar (CAD) was U.S. $.70. The fair value of the net assets of Hastie was equal to their book value of CAD 450,000 on the date of acquisition. remaining life of five years. The functional currency of Hastie is the Canadian dollar Any acquisition consideration excess over fair value was attributed to an unrecorded patent with a For the year ended December 31, 2018, Hastie's trial balance net income was translated at US. $25,000. The average exchange rate for the Canadian dollar during 2018 was U.S. $.68, and the 2018 year-end exchange rate was U.S. $.65. Kennedy's share of Hastie's net income for 2018 would be O $18,000. O $18,200 O$16,000. O$18,500. O$15,000. QUESTION 11 ratio of 2:3. They admitted Zell with a 309% interest in the partnership, and the total amount of goodwill credited to the original partners was $700. What amount did Zell contribute to the business? Jell and Dell were partners with capital balances of $600 and $800, and an inco $900 $600