On November 1, 20x9, ReSA Dairy Corp. concluded that the Thailand baht would weaken during the next ix months because of the coup that transpires recently. In hopes of reporting a gain, ReSA entered into a foreign exchange forward for speculation on November 1, 20x9, to sell 1,000,000 baht on April 30, 20y0 at the forward rate.

11/1/20x9 12/31/x9 4/30/y0 Spot rate(baht)P1.1901.1801.210Forward rate(baht)1.199 1.1871.210

1. The December 31, 20x9 profit and loss statement, foreign exchange gain or loss on forward contract

amounted to:

2. On April 30, 20y0, foreign exchange gains or loss on forward contract amounted to (ignoring any

discount reversal):

On December 31, 20x9, Indoy Company, the parent of the 100% owned Japanese subsidiary expected the yen to weaken by the end of 20y0. Accordingly, Indoy Company, the parent contracted with a foreign exchange trader on December 31, 20x9, to sell 2,300,000 yens (the subsidiary's net asset position at that date) in 365 days at the forward rate of P.435. The following direct exchange rates are as follows:12/31/20x9(the inception date12/31/y0(the expiration date and financial reporting dateSpot rate P.440 P.400Forward rate (selling forward) .435 .400The January 1, 20y0 balance of the translation reserve (cumulative) - debit amounted to P129,000 and translation reserve loss for 20x9 of P100,000.

1. The December 31, 20y0 foreign exchange gain or loss on forward contract to be charged to

amounted to:

2. The December 31, 20y0, translation reserve balance (cumulative translation adjustment) amounted to: