On June 1, 2008, JOB Corporation, Japanese company bought goods from NNN Co, a Filipino Co. costing Y1,000,000 payable in five equal monthly installments starting July 1, 2008 June 1 YO.25 July 1 August Spot rates Buying Pl= Sept 1 Y0.26 YO.27 YO.30 YO.27 YO.29 Y0.32 Selling P1= Y0.28 If JOB Corporation closes it books on October 31, 2008 3. What is the foreign exchange gain or loss to be recognized by JOB Corporation for the fiscal year ended October 31, 2008? b. (P6,000) c. PO d. (P3,000) a (P2,000) Oct 31 Y0.31 YO.28 Y0.33 YO.30 Nov.1

On June 1, 2008, JOB Corporation, Japanese company bought goods from NNN Co, a Filipino Co. costing Y1,000,000 payable in five equal monthly installments starting July 1, 2008 June 1 YO.25 July 1 August Spot rates Buying Pl= Sept 1 Y0.26 YO.27 YO.30 YO.27 YO.29 Y0.32 Selling P1= Y0.28 If JOB Corporation closes it books on October 31, 2008 3. What is the foreign exchange gain or loss to be recognized by JOB Corporation for the fiscal year ended October 31, 2008? b. (P6,000) c. PO d. (P3,000) a (P2,000) Oct 31 Y0.31 YO.28 Y0.33 YO.30 Nov.1

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 7RE: McKinney Co. estimates its uncollectible accounts as a percentage of credit sales. McKinney made...

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