Aguilar Company establishes a subsidiary operation in a foreign country on January 1, 2024. The country's currency is the rial (R). To start this business, Agullar Invests 10,000 rials. Of this amount, It spends 3,000 rials Immediately to acquire equipment. Later, on April 1, 2024, It also purchases land. All subsidiary operational activities occur at an even rate throughout the year. Aguilar uses the U.S. dollar as its reporting currency. The U.S. dollar ($) exchange rates for the rial for 2024 follow: January 1 April 1 June 1 Weighted average December 31 As of December 31, 2024, the subsidiary reports the following trial balance: Credits Cash Accounts receivable Equipment Accumulated depreciation Land Accounts payable Notes payable (due 2032) Common stock Dividends declared (6/1/24) Sales Salary expense Depreciation expense Miscellaneous expenses Totals Cash Accounts receivable Equipment Accumulated depreciation $ 1.71 1.59 1.66 1.64 1.62 Land Accounts payable Notes payable Common stock Dividends declared Required: a. Assume that the subsidiary's functional currency is the rial (R). Prepare a trial balance for it In U.S. dollars so that 2024 consolidated financial statements can be prepared. b. Assume that the subsidiary's functional currency is the U.S. dollar. Prepare a trial balance for It In U.S. dollars so that 2024 consolidated financial statements can be prepared. Sales Salary expense Complete this question by entering your answers in the tabs below. Depreciation expense Miscellaneous expense Required A Required B Assume that the subsidiary's functional currency is the rial (R). Prepare a trial balance for it in U.S. dollars so that 2024 consolidated financial statements can be prepared. Debits Translation adjustment Debits R 8,000 9,000 3,000 5,000 $ $ 4,000 5,000 600 9,000 R 43,600 R 43,600 R 600 3,000 5,000 10,000 25,000 0 S 0 $ Credits 0 9b.png Complete this question by entering your answers in the tab Required A Assume that the subsidiary's functional currency is the U.S. collar. consolidated financial statements can be prepared. Debits Required B Cash Accounts receivable Equipment Accumulated depreciation Land Accounts payable Notes payable Common stock Dividends declared Sales Salary expense Depreciation expense Miscellaneous expense Remeasurement loss $ S 0 0 $ Credits