Question
Matlhakala (Pty) Ltd in Botswana sold goods overseas for 200,000 on 28 March 2013 when the exchange rate was 0.65: P1. The customer paid in
Matlhakala (Pty) Ltd in Botswana sold goods overseas for £200,000 on 28 March 2013 when the exchange rate was £0.65: P1. The customer paid in April 2013 when the rate was £0.70: P1. The exchange rate at the year ended 30 June 2013 was £0.75: P1.
Prepare the journal entries to record the sale of the goods by the Botswana entity.
Show the journal entries to record the payment in April 2013.
If the amount was outstanding at the year-end, Calculate the gain or loss in the statement of profit or loss be?
Matlhakala (Pty) Ltd in Botswana purchased goods for £200,000 on 28 March 2013 when the exchange rate was £0.65: P1. The exchange rate at the year ended 30 June 2013 was £0.75: P1. If the goods were unsold at the year-end, Calculate the value of inventory?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
