[URGENT] PLS HELP!!!!!!!!!

Part A. Explain "functional currency" and suggest one indicator that an entity may consider to determine its functional currency. (4 marks) Part B. On 1 December 2019, Company EX, with a functional currency and presentation EX has received the money only in 2020. Exchange rate of EUR/HKD was 8.79 and 8.96 respectively on 1 December 2019 and 31 December 2019. Required: Prepare the journal entries for EX in HKD for the year ended 31 December 2019. (4 marks) Part C. Company PriceBest established a wholly-owned Company Sugar on 1 January 2019. Sugar has a functional currency in USD but PriceBest requires Sugar to use SGD as its presentation currency. Company Sugar Statement of Financial Position As at 31 December 2019 USD Property 20,000 Cash 130,000 Inventory 200.000 Accounts receivable 100,000 450,000 Share capital Retained earnings Accounts payable 150,000 270,000 30,000 450,000 USD/SGD spot rates 1 January 2019 1.24 31 December 2019 1.36 Average for the year of 2019 1.30 Required: Translate Sugar's statement of financial position as at 31 December 2019 from USD to SGD using the closing rate method. (8 marks)