Convert the following trial balance of New York branch (NYB) of B Limited (BL) in Mumbai. Closing
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Convert the following trial balance of New York branch (NYB) of B Limited (BL) in Mumbai. Closing stock with the branch was $ 600 B Limited showed NYB's account with Rs. 40,000 debit balance. In the books of BL branch, furniture appeared at ₹11,500. The exchange rate on March 31, 2010 was 46 and on March 31, 2011 it was 44, whereas average rate for the year was 45 per dollar.
Transcribed Image Text:
Opening stock Purchase and sales Debtors and creditors Bills receivables Bills payables Wages and salary Office rent General expenses Furniture Trial Balance as on March 31, 2011 Particulars Cash at bank Account of B Limited, Mumbai Debit Amount ($) Credit Amount ($) 500 2,050 750 225 150 200 250 300 1,475 5,900 4,000 500 200 1,200 5,900
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Closing stock value at 44 per the converted amount ...View the full answer
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