Suppose that you received your college degree from penn state and nailed a great job over in europe in the summer of 2006. given that your family remains in the us, you make sure that you visit the family every september by traveling from europe to the us. we are going to compare the cost of this vacation, in terms of euros, during two different periods: september 2007 and september 2017. we assume that the cost of the trip, in terms of $ us, remains the same at $1,000 in both periods. using the data below, we will compare the euro cost of the trip in september 2007 vs. the euro cost of the trip in september 2017.data: 9/1/2007 the $ per euro exchange rate is $1.39 per euro9/1/2017 the $ per euro exchange rate was $1.19 per eurowhat was the cost of the trip in 2007 measured in euros?

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.