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The White Dove company, whose year ends 31 December, buys some goods from Ranka of France on 30 September. The invoice value is €40,000 and is due for settlement in equal instalments on 30 November and 31 January. The exchange rate is as follows:                                                             30 September                       A$1.00 = €1.60 30 November                        A$1.00 = €1.80 31 December                        A$1.00 = €1.90 31 January                            A$1.00 = €1.85   Required: Record the relevant journal entries in the books of White Dove.

The White Dove company, whose year ends 31 December, buys some goods from Ranka of France on 30 September. The invoice value is €40,000 and is due for settlement in equal instalments on 30 November and 31 January. The exchange rate is as follows:                                                             30 September                       A$1.00 = €1.60 30 November                        A$1.00 = €1.80 31 December                        A$1.00 = €1.90 31 January                            A$1.00 = €1.85   Required: Record the relevant journal entries in the books of White Dove.

SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter9: Taxation Of International Transactions
Section: Chapter Questions
Problem 28P
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The White Dove company, whose year ends 31 December, buys some goods from Ranka of France on 30 September. The invoice value is €40,000 and is due for settlement in equal instalments on 30 November and 31 January. The exchange rate is as follows:

                                                           

30 September                       A$1.00 = €1.60

30 November                        A$1.00 = €1.80

31 December                        A$1.00 = €1.90

31 January                            A$1.00 = €1.85

 

Required:

Record the relevant journal entries in the books of White Dove.

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