Question: How do i do this question and do the financial statment by doing the t account Q3 2 Fry Ltd a UK-based Company- the Sterling

How do i do this question and do the financial statment by doing the t account
 How do i do this question and do the financial statment

Q3 2 Fry Ltd a UK-based Company- the Sterling Pound is its functional currency- has the ollowing foreign currency transactions with an American company in the year to 31/12/2009 15/11 Buys goods for $40,000 on credit from Texas Inc. )15/11 Sells goods for $60,000 on credit to Alamos Inc. 3) 20/11 u)20/11 S)20/11 Pays Texas Ine $40,000 for the goods purchased Receives $30,000 on account from Alamos inc in payment for the goods sold Buys machinery for $100,000 from Chicago Inc on credit ) 20/11 Borrows $90,000 from an American bank )21/12 Pays Chicago Ine $80,000 for the machinery The exchange rates at the relevant dates were: 15/11 1:$2.60 20/11 1:$2.40 21/12 1:$2.30 31/12 1:$2.10 Required: Record the above transactions in the books of Fry and calculate the profit or loss to be reported in the financial statements of Fry Ltd at 31/12/2009

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