When using the current rate method, the translation adjustment from translating a foreign subsidiary’s financial statements should be shown as

Jackson Corp. (a U.S.-based company) sold parts to a Korean customer on December 16, 2021, with payment of 20 million Korean won to be received on January 15, 2022. The following exchange rates applied:   Date Spot Rate Forward Rate to Jan.15 December 16, 2021 $ 0.00082   $ 0.00089   December 31, 2021   0.00080     0.00083   January 15, 2022   0.00086     0.00086     Assuming a forward contract was not entered into, what would be the net impact on Jackson Corp.’s 2021 income statement related to this transaction?                         A)    $600 (gain).                     B)    $600 (loss).            C)    $400 (gain).            D)    $400 (loss).            E)    $0

In accounting, the term translation refers to

The USA enters a recession and therefore its demand for Chinese goods falls. This means that the demand for Yuan falls, the Yuan depreciates, and China will sell Yuan for USD in order to re-establish a pegged rate. 

What type of movement or type of joint is the knee? _______ Is this a left or right knee? _______

Name the bone that the black arrow is pointing to: _______

Name the specific passageway of the previously named bone that the black arrow is pointing to: _______

Name the specific depressed area of the previously named bone that the pointer is resting in. _______

Certain balance sheet accounts of a foreign subsidiary of the Crater Co. had been stated in U.S. dollars as follows:     Stated at   Current Rates   Historical Rates Accounts receivable−current $ 310,000     $ 324,000   Accounts receivable−long term   150,000       167,000   Prepaid insurance   90,000       98,000   Goodwill   115,000       121,000   Totals $ 665,000     $ 710,000     If the U.S. dollar is the functional currency of this subsidiary, what total amount should be included in Crater’s balance sheet in U.S. dollars?                         A)    $688,000.                        B)    $696,000.            C)    $710,000.            D)    $665,000.            E)    $679,000.

The idea of relative purchase power parity suggests that interest rates earned by investors in different countries will drive the exchange rates in the long run.