Boerkian Co

question 58

Essay

Boerkian Co. started 2021 with two assets: Cash of §26,000 (Stickles) and Land that originally cost §72,000 when acquired on April 4, 2018. On May 1, 2021, the company rendered services to a customer for §36,000, an amount immediately paid in cash. On October 1, 2021, the company incurred an operating expense of §22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary. Currency exchange rates were as follows: Assume Boerkian was a foreign subsidiary of a U.S. multinational company and the U.S. dollar was the functional currency of the subsidiary. Prepare a schedule of changes in the net monetary assets of Boerkian for the year 2021 and properly label the resulting gain or loss.

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Definitions:

Technoscience

An interdisciplinary field that explores the inseparable connections between science and technology, emphasizing their co-evolution and the social implications of their development.

Postsociality

Describes a societal condition or theoretical perspective that transcends traditional notions of social relationships and structures.

Affect

A term in psychology that refers to the underlying experience of feeling, emotion, or mood.

Posthumanism

A philosophical perspective that seeks to transcend traditional notions of what it means to be human, often focusing on technology's role in altering human life and the boundaries between humans, machines, and nature.