banner_ad

purchase import

Accounting Entries 669 views 1 replies
User Avatar

Student
67 Points Posted on 03 August 2009

Consider the following situation ABC Ltd purchases goods from china.  Goods are delivered to ABC Ltd on 11/6/2009 with invoice date as 25/5/2009. Payment for the amount is made on 5/9/2009 by ABC Ltd. When should the entry for purchase & which amount entered because amount on USD & currency rate changed every time.

Reply Share Follow
On 03 August 2009 at 18:08 Report
Replies (1)
User Avatar

CA FINAL
32 Points Posted on 04 August 2009
entry of purchase is passed on 25/05/09 i.e on date of invoice.$difference of forex transferred to p&L
Reply
On 04 August 2009 at 00:31


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details