The transactions of FOREIGN Ltd. are the following: The company sells goods to a foreign customer. The
Question:
The transactions of „FOREIGN” Ltd. are the following:
The company sells goods to a foreign customer. The selling price on the invoice is 2,000 EUR. The transaction date is 1st July (the exchange rate is 340 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 3,000 EUR. The transaction date is 21st July (the exchange rate is 330 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 realized 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 again, with a +sign without space!) | |
How much is the initial value of foreign trade payables in HUF? | |
How much is the paid money in HUF at the date of the financial settlement? | |
How much is the realized 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 again, with a +sign without space!) |
Intermediate Accounting
ISBN: 978-1118742976
16th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield