Scribd Logo
Upload

Welcome to Scribd!

  • 11 views

    E12-6 - Daniel Stefanus - 2019104713

    Uploaded by

    Faishal Alghi Fari
    The document details inventory sales to a company in Thai baht on three dates in 2016 and 2017, including recording the transactions and adjusting exchange gains and losses in the company's income statement.

    Copyright:

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

    E12-6 - Daniel Stefanus - 2019104713

    Uploaded by

    Faishal Alghi Fari
    11 views1 page
    The document details inventory sales to a company in Thai baht on three dates in 2016 and 2017, including recording the transactions and adjusting exchange gains and losses in the company's income statement.

    Original Title

    E12-6_Daniel Stefanus_2019104713

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document details inventory sales to a company in Thai baht on three dates in 2016 and 2017, including recording the transactions and adjusting exchange gains and losses in the company's income statement.

    Copyright:

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

    E12-6 - Daniel Stefanus - 2019104713

    Uploaded by

    Faishal Alghi Fari
    The document details inventory sales to a company in Thai baht on three dates in 2016 and 2017, including recording the transactions and adjusting exchange gains and losses in the company's income statement.

    Copyright:

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

    Inventory price

    Date Spot rate Total


    (in Thai baht)
    Oct 15, 2016 ($ 0.029) 245,000 ($ 7,105)
    Dec 31, 2016 ($ 0.033) 245,000 ($ 8,085)
    Jan 15, 2017 ($ 0.030) 245,000 ($ 7,350)

    JOURNAL ENTRY Rise Corporation


    October 15, 2016 Income Statement (Partial)
    Accounts Receivable ($ 7,105) For the Year Ended December 31, 2016
    Sales ($ 7,105) Exchange Gain ($ 980)
    (To record sales to Chai company, spot rate $0,029)
    Rise Corporation
    December 31, 2016 Income Statement (Partial)
    Accounts Receivable ($ 980) For the Year Ended December 31, 2017
    Exchange Gain ($ 980) Exchange Gain ($ 245)
    (To adjust accounts receivable at year-end, change in spot rate $0.033 - $0.029)

    Jan 15 2017
    Cash ($ 7,350)
    Exchange Loss ($ 735)
    Accounts Receivable ($ 8,085)
    (To record full collection from Chai company, spot rate $0.030 and recognize
    exchange loss due to change in spot rate $0.033 - $0.030)

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy