Calculate the profit or loss on foreign currency to be reported in the financial statements of...

  

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Calculate the profit or loss on foreign currency to be reported in the financial statements of Hazik Sdn Bhd Hazik Sdn Bhd buys and sells computer parts, the following information are for the year end 31 Dec 2022 15-Feb Buys goods for 18,000 CNY from Xaoli 18-Feb Buys goods for 20,000 CNY from Wang & Sons 18-Feb Solds goods for SGD15,000 to Numeric Associates on credit 10-Mar Pays Xaoli CNY 10,000 13-Mar Borrows SGD 20,000 from SG National Bank 12-Apr Receives SGD 10,000 from Numeric Associates 12-Apr Bought Equipments for CNY50,000 on credit from Micky 15-May Pays Micky CNY30,000 The exchange rates at the relevant dates were; 15-Feb RM1-CNY1.54 18-Feb RM1-CNY1.64 18-Feb RM1-SGD0.29 10-Mar RM1 CNY 1.70 13-Mar RM1-SGD0.25 12-Apr RM1-SGD0.30 12-Apr RM1-CNY 1.80 15-May RM1-CNY1.75 31-Dec RM1-CNY 1.80 31-Dec RM1-SGD0.35 Calculate the profit or loss on foreign currency to be reported in the financial statements of Hazik Sdn Bhd Hazik Sdn Bhd buys and sells computer parts, the following information are for the year end 31 Dec 2022 15-Feb Buys goods for 18,000 CNY from Xaoli 18-Feb Buys goods for 20,000 CNY from Wang & Sons 18-Feb Solds goods for SGD15,000 to Numeric Associates on credit 10-Mar Pays Xaoli CNY 10,000 13-Mar Borrows SGD 20,000 from SG National Bank 12-Apr Receives SGD 10,000 from Numeric Associates 12-Apr Bought Equipments for CNY50,000 on credit from Micky 15-May Pays Micky CNY30,000 The exchange rates at the relevant dates were; 15-Feb RM1-CNY1.54 18-Feb RM1-CNY1.64 18-Feb RM1-SGD0.29 10-Mar RM1 CNY 1.70 13-Mar RM1-SGD0.25 12-Apr RM1-SGD0.30 12-Apr RM1-CNY 1.80 15-May RM1-CNY1.75 31-Dec RM1-CNY 1.80 31-Dec RM1-SGD0.35