Scribd Logo
Upload

Welcome to Scribd!

  • 3K views

    Nurul Aryani - AKL1 - QUIZ 4 - SOAL 2.

    Uploaded by

    Nurul Aryani
    This document contains a quiz question that asks the student to prepare journal entries for several foreign currency transactions made by an American company. It provides details of the transactions, including amounts in various foreign currencies and the applicable spot rates on the transaction date and year-end closing date. The transactions include selling inventory to two customers for Singapore dollars and rupiah, and purchasing inventory from a supplier for Thai baht. The student is asked to prepare journal entries to account for these transactions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Nurul Aryani - AKL1 - QUIZ 4 - SOAL 2.

    Uploaded by

    Nurul Aryani
    3K views1 page
    This document contains a quiz question that asks the student to prepare journal entries for several foreign currency transactions made by an American company. It provides details of the transactions, including amounts in various foreign currencies and the applicable spot rates on the transaction date and year-end closing date. The transactions include selling inventory to two customers for Singapore dollars and rupiah, and purchasing inventory from a supplier for Thai baht. The student is asked to prepare journal entries to account for these transactions.

    Original Title

    43218120075_Nurul Aryani_AKL1_QUIZ 4_SOAL 2.

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document contains a quiz question that asks the student to prepare journal entries for several foreign currency transactions made by an American company. It provides details of the transactions, including amounts in various foreign currencies and the applicable spot rates on the transaction date and year-end closing date. The transactions include selling inventory to two customers for Singapore dollars and rupiah, and purchasing inventory from a supplier for Thai baht. The student is asked to prepare journal entries to account for these transactions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views1 page

    Nurul Aryani - AKL1 - QUIZ 4 - SOAL 2.

    Uploaded by

    Nurul Aryani
    This document contains a quiz question that asks the student to prepare journal entries for several foreign currency transactions made by an American company. It provides details of the transactions, including amounts in various foreign currencies and the applicable spot rates on the transaction date and year-end closing date. The transactions include selling inventory to two customers for Singapore dollars and rupiah, and purchasing inventory from a supplier for Thai baht. The student is asked to prepare journal entries to account for these transactions.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Nama : Nurul Aryani

    NIM : 43218120075
    Akuntansi Keuangan Lanjutan 1

    QUIZ 4
    Soal 2

    An American company Pete Inc, sold its inventory to Ping Pte.Ltd for $20,000 SGD, and to Satria Tbk.
    for 300,000,000 rupiah on December 1, 2014-when the spot rate for SGD is $0.798 and for Rupiah is
    $0.0000875. At the same time, Pete purchased merchandise from Patay Inc. for 500,000 baht, when
    the spot rate for baht is $0.031. Pete closed its books on December 31, 2014, and spot rates are
    given as follows :

    31-Dec-14 15-Jan-15

    SGD $0.76 $0.802


    IDR $0.0000911 $0.0000805
    Thai Baht $0.029 $0.0318

    REQUIRED : Prepare the required journal entries to account for the transactions above

    Answer :

    Journal, 1 Dec 2014

    Sold Investaris to Ping Pte


    Account Receivable $15,960
    sales $15,960
    *20,000 X $ 0,798 = $15,960

    Sold Investaris to Satria Tbk


    Account Receivable $26,250
    sales $26,250
    *300.000 X $ 0,000875

    Sold Investaris to Patay Inc


    Account Receivable $15,500
    sales $15,500
    *500.000 X $ 0,031

    Journal Tutup Buku, 31 Dec 2014

    Exchange Loss $760


    Account Receivable $760
    *20.000 x $0,76 = 15.200
    15.200 - 15.960 = 760

    Account Receivable $1,080


    Exchange Gain $1,080
    *Rp 300.000.000 X 0,0000911 = 27.330
    27.330 - 26.250 = 1.080

    Account Payable $1,000


    Exchange Gain $1,000
    *Rp 500.000 Bath X 0,091 = 14.500
    15.500 - 14.500 = 1.000

    Journal Tutup Buku, 15 Dec 2015

    Cash $16,040
    Exchange Loss $840
    Accounting Receivable $15,200
    *20.000 x 0,802 = 16.040
    15.200 - 16.040 = -840

    Cash $24,150
    exchange Gain $3,180
    Account Recevaible $27,330
    *300.000.000 X 0,0000805 = 24.150
    27.330 - 24.150 = 3.180

    Account Payable $15,500


    Exchange Gain $400
    Cash $15,900
    *500.000 Bath X 0,0318 = 15.900
    15.900 - 15.500 = 400

    You might also like