Blouberg Holdings Ltd is a South African company with several overseas shareholders. Their yearend is on 30 June each year. On 31 December 2020 the company declared a dividend. The amount that was owed to its Chinese investors for the dividend was $296 000. This amount was only paid over on 31 December 2022. No interest accrued on the transaction. The following exchange rates are applicable: Date R / $ exchange rate 31 December 2020 R16.65 30 June 2021 R16.45 30 June 2022 R16.35 Average rate for 2021 R16.50 Average rate for 2022 R16.40 Q.4.2 Prepare all the journal entries to record the above transaction from recognition up to the year end 30 June 2022 when the amount was paid.
Blouberg Holdings Ltd is a South African company with several overseas shareholders. Their yearend is on 30 June each year. On 31 December 2020 the company declared a dividend. The amount that was owed to its Chinese investors for the dividend was $296 000. This amount was only paid over on 31 December 2022. No interest accrued on the transaction.
The following exchange rates are applicable:
Date R / $ exchange rate
31 December 2020 R16.65
30 June 2021 R16.45
30 June 2022 R16.35
Average rate for 2021 R16.50
Average rate for 2022 R16.40
Q.4.2 Prepare all the
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