in won 12/31/2019

Assets
cash 30,000.00 ₱42.50 ₱ 1,275,000.00
Receivables 122,500.00 ₱42.50 5,206,250.00
Inventory 160,000.00 ₱42.50 6,800,000.00
PPE 255,000.00 ₱42.50 10,837,500.00
Total 567,500.00 ₱ 24,118,750.00

Liabilities & Equity

Accounts payable 55,000.00 ₱42.50 2,337,500.00
Long-term debt 322,500.00 ₱42.50 13,706,250.00
Common stock 115,000.00 ₱45.00 5,175,000.00
Retained earnings 75,000.00 3,337,500.00
Cumulative translation (437,500.00)
Total 567,500.00 ₱ 24,118,750.00
-

RE, beg. - ₱ - -
Add: net income 90,000.00 ₱43.75 3,937,500.00
Less: dividends (15,000.00) ₱40.00 (600,000.00)
RE, end. 75,000.00 3,337,500.00
 12/31/2020

25,000.00 ₱47.50 1,187,500.00

147,500.00 ₱47.50 7,006,250.00
170,000.00 ₱47.50 8,075,000.00
230,000.00 ₱47.50 10,925,000.00
572,500.00 27,193,750.00

75,000.00 ₱47.50 3,562,500.00

285,000.00 ₱47.50 13,537,500.00
115,000.00 ₱45.00 5,175,000.00
97,500.00 4,350,000.00
568,750.00
572,500.00 27,193,750.00
-

75,000.00 3,337,500.00
22,500.00 ₱45.00 1,012,500.00
- -
97,500.00 4,350,000.00
Cash 11,000.00 41.00 451,000.00
Accumulated depreciation (10,000.00) 41.00 (410,000.00)
Marketable securities at fair value 22,000.00 41.00 902,000.00
Accounts receivable - net 25,000.00 41.00 1,025,000.00
Prepaid expenses 2,000.00 41.00 82,000.00
PPE 100,000.00 41.00 4,100,000.00
Intangible assets, net 16,000.00 41.00 656,000.00
Other noncurrent assets 8,000.00 41.00 328,000.00
Inventories, at cost,end 6,000.00 41.00 246,000.00
180,000.00 7,380,000.00

Accounts payable 16,000.00 41.00 656,000.00

Notes payable - trade 14,000.00 41.00 574,000.00
Notes payable 20,000.00 41.00 820,000.00
Share capital, 5 won, par 50,000.00 50.00 2,500,000.00
Share premium 20,000.00 50.00 1,000,000.00
Retained earnings, end. 54,000.00 2,254,000.00
Cumulative translation (424,000.00)
174,000.00 7,380,000.00
6,000.00 -

Retained earnings, beg. 33,000.00 1,320,000.00

Add: net income 31,000.00 44.00 1,364,000.00
Less: dividends declared 10,000.00 43.00 430,000.00
Retained earnings, end. 54,000.00 2,254,000.00

Sales 98,000.00
Less: Cost of Sales 49,000.00
Inventories,at cost, beg 15,000.00
Purchases 40,000.00
Inventories, at cost,end 6,000.00
Gross Profit 49,000.00
Doubtful accounts expense 1,000.00
Depreciation expense 5,000.00
Other selling expenses 3,000.00
General admin expenses 9,000.00
Net income 31,000.00
5,330,000.00
Debits in NZ$
Cash 15,000.00 $0.65
Accounts receivable - net 60,000.00 $0.65
Inventories 30,000.00 $0.66
Prepaid expenses 10,000.00 $0.70
Land 45,000.00 $0.70
Equipment 60,000.00 50,000.00 $0.70
10,000.00 $0.68
Cost of sales 120,000.00
Depreciation expense 12,000.00 10,000.00 $0.70
2,000.00 $0.68
Other operating expenses 28,000.00 20,000.00 $0.70
8,000.00 $0.67
Dividends 20,000.00 $0.66
Exchange loss

Credits in NZ$
Accumulated depreciation 22,000.00 20,000.00 $0.70
2,000.00 $0.68
Accounts payable 18,000.00 $0.65
Capital stock 150,000.00 $0.70
Retained earnings 10,000.00
Sales 200,000.00 $0.67

Invty, beg. 50,000.00 $0.70

Purchases 100,000.00 $0.67
Invty, end. (30,000.00) $0.66
Cost of sales 120,000.00

Sales 200,000.00 $0.67

COS 120,000.00
GP 80,000.00
Depreciation expense 12,000.00 $0.67
Other operating expenses 28,000.00
Net income 40,000.00

RE, beg. 10,000.00

Net income 40,000.00
Dividends (20,000.00) $0.66
RE, end. 30,000.00

CS 150,000.00 0.7 105,000.00

RE 10,000.00 0.7 7,000.00
160,000.00 112,000.00
112,000.00
0.70 0.9375 105,000.00
0.0625 7,000.00
 Debits
$ 9,750.00 Current rate
39,000.00 Current rate
19,800.00 Historical
7,000.00 Historical, acquisition
31,500.00 Historical, acquisition
35,000.00 Historical, acquisition
6,800.00 Historical, transaction
82,200.00 computed
7,000.00
1,360.00
14,000.00
5,360.00
13,200.00 Historical, transaction
1,090.00 balancing figure
$ 273,060.00

Credits
$ 14,000.00 same rate withs
1,360.00 same rate with equipment
11,700.00 Current rate
105,000.00 Historical, acquisition
7,000.00
134,000.00 average

$ 273,060.00 -

35,000.00 Historical, acquisition

67,000.00 average
(19,800.00) Historical, transaction
82,200.00

134,000.00
82,200.00
51,800.00
8,040.00
19,360.00
24,400.00

7,000.00 Historical, acquisition

24,400.00 computed
(13,200.00) Historical, transaction
18,200.00
AC
T T
B LC = FC FC x PC
1C C
2C C
3C C
4C C
5C C
6H H
7A A
8C C
9H H
10 C C
11 C C
12 C C