6. P company a Mexican subsidiary of a US company, sold equipment costing 200,000 pesos with accumulated depreciation of 75,000 pesos for 140,000 pesos on 3/1/2018. The equipment was purchased on 1/1/2017. Relevant exchange rates for the peso are as follows:

1/1/2017 $0.110

3/1/2018 $0.106

12/31/2018 $0.102

Average 2018 $0.105

The financial statements for P are translated by its US parent. What amount of gain or loss would be reported in its translated income statement?

The financial statement for P are remeasured by its US parent. What amount of again of loss would be reported in its translated income statement?

Answers: $1590 and $1090

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The transfer of a tenant's ENTIRE interest in leased property to another is known as:

Basil has a personal check certified by Citibank. If the named payee presents the check for payment and Citibank dishonors it then Basil will:

If Joe writes a check to Ralph, who indorses it to Al, who indorses it to Kevin , who presents it to the bank where it is dishonored:

If the treasurer of a company strts cashing forged checks over a thirteen month period before it is discovered, who will bear liability between the company and the bank?

The right of the government to take private land for public use is known as:

Dean Foods is one of the largest dairy food manufacturers in US. The main problem the company is facing is that due to competition from retailers, their milk supply has decreased in revenue by a huge percentage.

List how each of Porter's 5 Forces relate to Dean Foods' situation. What solutions can you recommend Dean Foods can do based off of Porter's 5 Forces analysis?

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1. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate. 2. Assume significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate.

A local firm will give Texas State University 1.6 million in exactly 1 year from today (year 1). Each year after that, they will donate to the university an amount 5% larger than the previous donation, with their last donation occurring in 18 years (year 18). What is the present value of this donation immediately after the 7th payment is given (PV in year 7) assuming an annual interest rate of 6%?

1. 25.10 million

2. 33.52 million

3. 160.00 million

4. 22.29 million

Anna is a graduate accounting student at the local university. She is the recipient of a $1,000 scholarship from the university. In addition, Anna works as a part time teaching assistant in the school of accountancy. She is paid $3,000 per calendar year and receives a tuition waiver covering 100 percent of her tuition. If not for the waiver, Anna would have paid $8,000 for tuition. Further, she paid $400 for books and supplies related to her coursework and incurred living expenses of $6,200. How much gross income Anna must report

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Please answer both questions. Thank you.