Inkal co. was formed on january 1, 2017 as a wholly owned subsidiary of a us corporation. sinkal's functional currency was the stickle (§). the following transactions and events occurred during 2017: jan 1 sinkal issued common stock for §1,000,000 june 30 sinkal paid dividends of §20,000 dec. 31 sinkal reported net income of §80,000 for the year exchange rates for 2017 were: jan 1 §1 = $.48 june 30 §1 = $.46 dec. 31 §1 = $.42 average §1 = $.44

what was the amount of the translation adjustment for 2017?

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.