Question 12 On October 5, 2022, Density Company sold goods on account to Britain Corporation for 50,320 pounds. The date of invoice is October 29, 2022 and payment is due on January 30, 2023. Exchange rates were as follows: How much is the total sales to be presented in the income statement on December 31, 2022?

Select one: P 3,396,600 P 3,456,984 P 3,482,144 P 3,190,288

Question 13 Paul purchases raw material from its foreign supplier, Maxim, on February 1, 2030. Payment of 4,700,000 foreign currency units (FC) is due in 30 days, June 30, 2030 fiscal year-end. The pertinent exchange rates were as follows: How much Philippine peso will it cost Paul to finally pay the accounts payable July 31, 2030? Select one: P5,734,000 P5,875,000 P5,922,000 P5,640,000 Question 14 On November 19, 2022, Risk Company, a Philippine Company ordered merchandise from Wales Company for 31,800 pounds. The merchandise was delivered on December 18, 2022. The invoice was dated December 2, 2022, the shipping date (FOB shipping point). Risk Company paid the invoice on January 28, 2023. The spot rates for a pound on the respective dates were: What amount will affect profit or loss in 2022? Select one: P108,120 gain P120,840 gain P25,440 loss P144,690 gain Question 15 On November 1, 2019, VDB Company a Philippine Based Company received an order of 1,500 units of inventory from a HK Company a U.S. based Company for $50,000. The inventory was shipped by VDB Company and billed HK firm on December 1, 2019. VDB Company received the customer remittance in full on March 2, 2020. VDB's fiscal year end is December 31. Assume that VDB did not engage in any form of hedging activity. The following are the spot rates for U.S. Dollars at various times are as follow: How much is the ForEx gain or loss) on December 31, 2019? Select one: 30,000 32,500 35,000 37,500