5) During December of the current year, Exide company based in America, entered into the following transactions; Dec 10 Sold machinery to company located in Colombia for 6,500,000 pesos. On this date, the spot rate was 365 pesos per U.S. Dollar. Dec 12 Purchased Machine parts from a company domiciled in Japan. The contract was denominated in 600,000 Japan yen. The direct exchange spot rate on this date was $.0392. Required: A) Prepare journal entries to record the transactions above on the books of Exide company. The company uses a periodic inventory system. B) Prepare journal entries necessary to adjust the accounts as of December 31. Assume that on December 31 the direct exchange rates were as follows: Colombia peso $.00265 Japan yen .0353 C) Prepare journal entries to record settlement of both open accounts on January 10. Assume that the direct exchange rates on the settlement dates were as follows: Colombia peso $.00325 Japan yen .0396

6) The following information is available for Jet Company Ltd for 2018. a) On January 1, 2018 Jet paid property tax amounting OMR 100,000 on its rented building for the calendar year 2018. Month of July Jet Company purchased end of the year new Office building amounting to OMR 50,000. Tax paid two equal terms. b) The repairs and Maintenance of property amounting to OMR 10,000. c) A Stock gain of OMR 200,000 from high marketable demand in the month of September 1 and Dec 15 in the year of 2018. d) At the end of the August 2018 Jet Company sold some equipment with a fair value of OMR 50,000 for OMR 40,000. Required: State the OMR amounts that should appear in Jet Companys Quarterly financial statement report.