Sorocaba ltda. sold a building to banco janeiro on january 1, 2017, for 200,000 reais and then leased it back under a 10-year lease agreement, which is accounted for as an operating lease. the building had a carrying amount of 150,000 reais and a fair value of 200,000 reais on the date of sale.

assume that a foreign company using ifrs is owned by a company using u. s. gaap. thus, ifrs balances must be converted to u. s. gaap to prepare consolidated financial statements. ignore income taxes.

required:

a. prepare journal entries for this sale and leaseback for the years ending december 31, 2017, and december 31, 2018, under (1) ifrs and (2) u. s. gaap.

b. prepare the entry(ies) that the u. s. parent would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert ifrs balances to u. s. gaap.

complete this question by entering your answers in the tabs below.

required a

required b

prepare journal entries for this sale and leaseback for the years ending december 31, 2017, and december 31, 2018, under (1) ifrs and (2) u. s. gaap. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

In a team environment, a coordinator is? a person with expert knowledge or skills in a particular area the team needs. a good listener who works to resolve social problems among teammates. a leader who team members focus on their tasks. a good networker who likes to explore new ideas and possiblities.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.

Aslam wants to create multiple worksheet containing common formatting styles for his team members. which file extension him to save these worksheets? [templates, workbooks, files] aslam to create multiple worksheets with common styles. he needs to save them with the [xlsb, xlts, xls, xlsm] extension.