Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The transactions of FOREIGN Ltd. are the following: The company sells goods to a foreign customer. The selling price on the invoice is 3000 EUR.

The transactions of FOREIGN Ltd. are the following:

The company sells goods to a foreign customer. The selling price on the invoice is 3000 EUR. The transaction date is 1st July (the exchange rate is 350 HUF/EUR).

A customer transferred its liability to the company on 3rd September. (the buying exchange rate is 325 HUF/EUR, the selling exchange rate is 335 HUF/EUR.

The company purchases goods from a foreign supplier. The purchase price on the invoice is 2000 EUR. The transaction date is 21st July (the exchange rate is 350 HUF/EUR).

The company transferred its liability to the supplier on 17th September. (the buying exchange rate is 340 HUF/EUR, the selling exchange rate is 345 HUF/EUR.

The entity does not have a foreign currency bank deposit.

Answer the questions!

Enter a value without spaces and other punctuation! Give your answers in HUF!

How much is the initial value of foreign trade receivables in HUF?

How much is the received money in HUF at the date of the financial settlement?

How much is the realised exchange difference in HUF at the date of the financial settlement on 3rd September? (If it is a loss, mark it with the sign, if it is a gain, with a +sign without space!)

How much is the initial value of foreign trade payables in HUF?

How much is the payed money in HUF at the date of the financial settlement?

How much is the realised exchange difference in HUF at the date of the financial settlement on 17th September? (If it is a loss, mark it with the sign, if it is a gain, with a +sign without space!)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Dynamic Bitcoin

Authors: S.m.g Reddy

1st Edition

1912516012, 978-1912516018

More Books

Students also viewed these Finance questions