CRYSTAL GAYLE BATILO BSA-3

ACCTG 35

1. Accounts Receivable (.45 x 1,500,000) 675,000

Sales 675,000

Accounts Receivable [ (.47-45) x 1,500,00] 30,000

Forex Gain 30,000

Forex Gain = ₱30,000 C.

2. 9/01/11 Purchases ( 5.61 x 200,000) 1,122,000

Accounts Payable 1,122,000

9/30/11 Accounts Payable (.02 x 200,000) 4,000

Forex Gain 4,000

12/31/11 Accounts Payable 1,118,000

Forex Loss 6,000
Cash ( 5.62 x 200,000) 1,124,000

3. 10/01/2020 Purchases ( 55.56 x10,000) 555,600

Accounts Payable 555,600

12/31/2020 Forex Loss [( 58.82 -55.56)] x 10,000] 32,600

Accounts Payable 32,600

04/01/2021 Accounts Payable 588,200

Forex Gain 88,200
Cash ( 1/.02 x 10,000) 500,000
1/0.018 = ₱55.56
1/0.018 = ₱ 58.82

4. December 1 ( 1/2.22 x200,000) ₱ 90,000

December 31 ( 1/2.70 x 200,000) 74,000
₱ ( 16,000)

Forex Loss ₱ 16, 000 A.