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What is the exchange rate on december for lkld co

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Reference no: EM132769348

On September 1, 2020, LKLD Co. acquired a computer for $100,000 when the exchange rate is P1= $20. LKLD Co. reported foreign exchange loss of P15,000 in its 2020 financial statement and P10,000 foreign exchange gain in its 2021 financial statements.

Problem 1: What is the exchange rate on December 31, 2020?

Group of answer choices

a. P1= $19.85

b. Not given

c. $1=P20.15

d. $1=P0.20

Reference no: EM132769348

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