banner_ad

Accounting Entry for realisation in USD

This query is : Open 
Profile Image

Profile Image

(Querist)
14 January 2010 A co. made export in US & invoice is made on 23.12.2009 for $5,68,900.74. Co. sent CAD papers to its bank for collection on 24.12.2009. On 07.01.2010 Net payment of $5,68,774.74 is realised after deduction of commission of $126. On 07.01.2010 1$= Rs. 45.56. Co. kept this $5,68,774.74 in its EEFC A/c. On 13.01.2010 Co. got coversion of $5,68,774.74 into Rs. @ 45.66/- and Rs. 2,59,70,255/- (i.e. $5,68,774.74*45.66) is transferred to its CC A/c from EEFC A/c on 13.01.2010.

What is the accounting entry for above mentioned transaction?
Profile Image

veena

Profile Image

veena (Expert)
14 January 2010 As on date of invoice

S Debtors (name of party) A/C Dr.
To Sale A/C (Amount of Invoice*FE rate on date of sale)

on realisation

Bank a/C Dr
Bank charges A/C Dr
To S Debtors A/C

The diff between remi in EEFC account to CC account will be foreign exchange gain or loss

Others views are also invited
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


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


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details