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Following are the card rates announced by the dealing room at 9.00am in the morning
|
|
|
|
|
|
Cheques |
|
|
|
Selling Rate |
Buying Rate |
|
USD |
44.90 |
43.60 |
|
Euro |
54.05 |
52.55 |
|
|
|
|
|
|
Foreign Currency notes |
|
|
|
Selling Rate |
Buying Rate |
|
USD |
45.10 |
43.40 |
|
Euro |
54.30 |
52.30 |
Based on the above, answer the following question.
The rate charged for issue of foreign currency notes for travelling abroad to the customer.
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- Following are the card rates announced by the dealing room at 9.00am in the morning Cheques Selling Rate Buying Rate USD 44.90 43.60 Euro 54.05 52.55 Foreign Currency notes Selling Rate Buying Rate USD 45.10 43.40 Euro 54.30 52.30 Based on the above, answer the following question. The rate quoted for issue of cheque of Euro 5,000 a. 54.05 b. 52.55 c. 54.30 d. 52.30Following are the card rates announced by the dealing room at 9.00am in the morning Cheques Selling Rate Buying Rate USD 44.90 43.60 Euro 54.05 52.55 Foreign Currency notes Selling Rate Buying Rate USD 45.10 43.40 Euro 54.30 52.30 What rate will you apply for a Euro gift received by the resident from his relative in Germany? a. 52.30 b. 52.55 c. 54.30 d. 54.05The following information was included in the bank reconciliation for EEECompany for October and November 2020: Checks and charges recorded by bank in November, including a November service charge of P10,000 and NSF check of P50,000 1,375,000 Service charge made by in October and recorded by depositor in November 5,000 Total credits to cash in all journals during November 1,550,000Customer’s NSF check returned in October and redeposited in November (no entry made by depositor in either October or November) 100,000 Outstanding checks on October 31,2020 that cleared in November 575,000 What is the total amount of outstanding checks on November 30,2020? FFF Company had the following bank reconciliation on June 30, 2020:
- Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on credit terms for US$80 000. On 1 August 2023, cash is received from the customer to settle the invoice Exchange rates are:1 April 2023 US$1.00 = A$1.3030 June 2023 US$1.00 = A$1.551 August 2023 US$1.00 = A$1.45What is the journal entry at the date of cash receipt on 1 August 2023? a. DR. Cash $124 000CR. Foreign Exchange Gain $8 000CR. Accounts Receivable $116 000 b. DR. Cash $55 172CR. Foreign Exchange Gain $3 559CR. Accounts Receivable $51 612 c. DR. Cash $116 000DR. Foreign Exchange Loss $8 000CR. Accounts Receivable $124 000 d. DR. Cash $116 000CR. Foreign Exchange Gain $20 000CR. Accounts Receivable $104 000An invoice of $3168 from Scottish Importers has cash terms of 4/20 EOM and is dated June 5. Find (a) the final date on which the cash discount may be taken and (b) the amount necessary to pay the invoice in full if the cash discount is earned.On April 26, two notes are discounted at the same rate t .The face of the first note is $7370 with a due date on May 31.The second note has a face value of $7430 with a due date on June 30. Determine the rate t , if the owner of the notes gets the same rate amount for the notes from the bank.
- On Jan 10 2018 the Mumbai based branchaap xyz bankinter into following foreign currency sale and purchase transaction one with Mr Ravi for sale of used 2002 be delivered on the January 10 number 2 with Mr shyam for purchase of USD 2000 to be delivered on January 11 3 with Mr sorry for purchase USD to be delivered on January 14 January 12 and 13 being bank holidays with Mr punit for sale used 2002 be delivered on February 11 the interbank foreign currency rates on January 10 2018 under casset already rate USD equal to raise 45.50/60, Tom rate RS.45.55/65 spot rate RS.45.60/70 ànd one month forward ràte rs.45.80/85. On the basis above answer the following question A.what rate will be used for transaction with Ravi? B. What amount in rupees will be involved in the ravi's transaction? C.what rate will be used for transaction with shyam? D.what amount in rupees will be involved with shyam transaction? E.what rate will be used for the transaction with Mr. Saurabh?7. Accompanying the bank statement was a credit memorandum for a short-term, noninterest-bearing note collected by the bank. What entry is required in the depositor’s accounts?a. Debit Cash; credit Miscellaneous Incomeb. Debit Cash; credit Notes Receivablec. Debit Accounts Receivable; credit Cashd. Debit Notes Receivable; credit Cash 8. On January 1, 2020, Point Luna Corporation sold inventory costing P1,800,000 with a list price of P2,200,000 and a cash price of P2,000,000 in exchange for a P2,400,000 noninterest-bearing note due on December 31, 2022. How much is the initial measurement of the receivable?a. 1,800,000b. 2,200,000 c. 2,000,000 d. 2,400,000 9. On January 1, 2020, ABC Co. sold a transportation equipment with a historical cost of P1,000,000 and accumulated depreciation of P300,000 in exchange for cash of P100,000 and a noninterest-bearing note receivable of P800,000 due on January 1, 2023. The prevailing rate of interest for this type of note is 12%. How much is the…Properly fill out the deposit slip for The Star Vista Corp. based on the following information. (Enter the checks in the order given.) date: July 8, 20 x $1,670 in currency $61.25 in coins checks in the amount of $3,455.94, $4,438.79, and $ 1,461.67
- 37) Joe discounted a bill of exchange face value OMR 6,000 with the bank, and bank charged a discount of OMR 300.What is the journal entry in the books of the bank?In what accounts should the following be classified: U.S. Treasury bills (45 days to maturity) — NSF check — Restricted cash — Travel advances — Petty cash Compensating balance—Fill out the bank deposit slip given the following details:A P5,000 check received is written on the deposit slip.1. Date of Deposit - August 20, 20X52. Type of Deposit - Checking3. Currency - Peso4. Account Name - ABC Company5. Account Number - 003976. Drawee Bank - BPI7. Check Number - 012768. Amount - P50009. Total Deposit - P5000
