Question: please help asap ?olfe Company (a US based company) has a subsidiary in Nigeria where the local cutrency unit is the naira (NGN). On December

?olfe Company (a US based company) has a subsidiary in Nigeria where the local cutrency unit is the naira (NGN). On December 31 , 2019, the subsidiary had the following balance sheet (amounts are in thousands [000 s)]. The subsidiary ocquired the inventory on August 1, 2019, and the land and building in 2013. It issued the common stock in 2011. During 2020 , the following transactions took place: 2029 Feb. 1 Pald 8,03 , e0e win on the note payable. May 1 Sold entire inventory for 16,300,000 vas on account. June 1 Sold land for 6,030,000 wor cash. Aug. I Collected o11 accounts receivable. Sept. I siened lone tero note to recelve 8,030,080 Nal cash. Oct. 1 Bought inventory for 20,030,000 KSi cash. hev. 1 bought 1 and for 3,030,000 nov on eccount. Dec. 1 Declared and paid 3,030,000 Vov cosh dividend to parent. Dec.31 Recorded depreciation for the entire year of 2,015 , 000 Nov. The US dollar (S) exchange rates for 1NGN ore as follows: 0. Assuming the NGN is the subsidiarys functional curtency, what is the trensiation odjustent determined solely for 2020 ? b. Assuming the US S is the subsidinys functional currency, what is the remeasurement goin or loss determined solely for 2020 ? (Input all emounts ss positive. Enter omounts in whole dollers.) 0. Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2020 ? b. Assuming the US.S is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2020 ? (Input all amounts as positive. Enter amounts in whole dollars.)
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