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Only question required is A and C. For A the Translation adjustment and for C the Net translation adjustment.

Christina Company (a U.S.-based company) has a subsidiary in Canada that began operations at the start of 2020 with assets of 147,000 Canadian dollars (CAD) and liabilities of CAD 84.000. During this initial year of operation, the subsidiary reported a profit of CAD 41,000. It distributed two dividends, each for CAD 6,500 with one dividend declared on March 1 and the other on October 1 Applicable U.S. dollar ($) exchange rates for 1 Canadian dollar follow January 1, 2020 (start of business) March 1, 2020 Weighted average rate for 2020 October 1, 2020 December 31, 2020 $0.84 0.82 0.81 0.80 0.79 a. Assume that the Canadian dollar is this subsidiary's functional currency. What translation adjustment would the company report for the Year 2020? b. Assume that on October 1, 2020, Christina entered into a forward exchange contract to hedge the net investment in this subsidiary On that date, the company agreed to sell CAD 200,000 in three months at a forward exchange rate of $0.80/CAD 1. Prepare the Journal entries required by this forward contract c. Compute the net translation adjustment the company will report in accumulated other comprehensive income for the year 2020 under this second set of circumstances. Required A Required B Required c k Assume that the Canadian dollar is this subsidiary's functional currency. What translation adjustment would the company report for the year 2020? Negative translation adjustment Required A Required B Required Compute the net translation adjustment the company will report in accumulated other comprehensive income for the year 2020 under this second set of circumstances. Negative nel translation adjustment

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