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The following account balances are for the Agee Company as of January 1, 2024, and...

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Accounting

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The following account balances are for the Agee Company as of January 1, 2024, and December 31, 2024. All amounts are denominated in kroner (Kr). Additional Information - Agee issued additional shares of common stock during the year on April 1, 2024. Common stocik on January 1, 2024, wa5 sold at the start of operations in 2017. - Agee purchased buildings in 2018 and sold one building with a book value of Kr. 5,500 on July 1 of the current year. - Equipment was acquired on April 1, 2024. Relevant exchange rates for 1Kr were as follows: Required: a. Assuming the U.S. dollar is the functional currency, what is the remeasurement gain or loss for 2024? The December 31, 2023, U.S. dollar-translated balance sheet reported retained earnings of $93,200, which included a remeasurement loss of $12,950. b. Assuming the foreign currency is the functional currency, what is the translation adjustment for 2024? The December 31, 2023, U.S. dollar-translated balance sheet reported retained earnings of $110,000 and a cumulative translation adjustment of $9,900 (credit balance). Note: For all requirements, input all answers as positive

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