Pilsner Company. converts its foreign subsidiary financial statements using the translation process. The company's subsidiary in the Czech Republic reported the following for 2014: revenues and expenses of 25,000,000 and 18,500,000 koruna, respectively, earned or incurred evenly throughout the year, dividends of 1,500,000 koruna were paid during the year. The following exchange rates are
available: On January 1 . 2014 .................................... $.040 On December 31 . 2014 .................................. .030 Average rate for 2014 ................................. .035 Rate when dividends were declared and paid ............ .031 Translated net income for 2014 is
a. $148,500.
b. $227,500.
c. $175,000.
d. $195,000.
B
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A balance sheet prepared in the report form lists the assets on the left and the liabilities and stockholders' equity on the right
Indicate whether the statement is true or false
A homeowner has an unpaid hospital bill for $20,000. The hospital files suit and wins a judgment for the full amount. Is the homeowner's home (which he owns free and clear) at risk?
A. No, because the debt must by $25,000 to force a sale B. No, because the debt must exceed the value of the homestead C. Yes, but he may be partly or fully protected by homestead laws D. Yes, a court may always force a sale to fulfill a judgement