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REFERENCE: Ref.10_13 Boerkian Co.started 2008 with Two Assets: Cash of §26,000 (Stickles)and

question 30

Essay

REFERENCE: Ref.10_13
Boerkian Co.started 2008 with two assets: cash of §26,000 (stickles)and land that originally cost §72,000 when acquired on April 4,2004.On May 1,2008,the company rendered services to a customer for §36,000,an amount immediately paid in cash.On October 1,2008,the company incurred an operating expense of §22,000 that was immediately paid.No other transactions occurred during the year.Currency exchange rates were as follows:
SHAPE \* MERGEFORMAT
$REFERENCE: Ref.10_13 Boerkian Co.started 2008 with two assets: cash of §26,000 (stickles)and land that originally cost §72,000 when acquired on April 4,2004.On May 1,2008,the company rendered services to a customer for §36,000,an amount immediately paid in cash.On October 1,2008,the company incurred an operating expense of §22,000 that was immediately paid.No other transactions occurred during the year.Currency exchange rates were as follows: SHAPE \* MERGEFORMAT -Assume that Boerkian was a foreign subsidiary of a U.S.multinational company.On the December 31,2008 balance sheet,what was the remeasured value of the Land account?$
-Assume that Boerkian was a foreign subsidiary of a U.S.multinational company.On the December 31,2008 balance sheet,what was the remeasured value of the Land account?

Definitions:

Direct Suit

A legal action initiated directly by an individual or entity against another party, without the need for intermediary steps, typically for injury or damage.

Lawsuit

A legal action brought in court by one party against another for the purpose of obtaining a remedy such as damages or specific performance.

Litigation Right

The legal ability to initiate a lawsuit or engage in court proceedings as a method of resolving disputes.

Self-Dealing

A situation where an individual in a fiduciary position acts to further their own interests rather than those of the individuals or entity they represent.