1. Parex Corporation, a U. S. company, acquired a wholly-owned subsidiary, located in Hong Kong, at the beginning of the current year, for HK$100,000. The subsidiary's functional currency is the Hong Kong dollar. The balance sheet of the subsidiary at the date of acquisition was as follows: Assets Tangible assets HK$ 300,000 Liabilities and Equity Liabilities HK$260,000 Capital stock 10,000 Retained earnings 30,000 Total liabilities and equity HK$300,000 2. The HK$60,000 excess paid above book value is attributed to goodwill, which is not impaired during the current year. The exchange rate was $0.14/HK$ at the date of acquisition and $0.12/HK$ at the end of the current year. At the end of the year, what is the translated balance for goodwill?

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). however, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). what is the future value of a 13-year annuity of $2,800 per period where payments come at the beginning of each period? the interest rate is 9 percent. use appendix c for an approximate answer, but calculate your final answer using the formula and financial calculator methods. to find the future value of an annuity due when using the appendix tables, add 1 to n and subtract 1 from the tabular value. for example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to appendix c for n = 6 and i = 10 percent. look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716)