Dear Friends,

I need your assistance, I need a solution for the below question that I have?


Purchases for the amount of EUR 12,000 were bought from one supplier in France and the invoice is payable within 60 days in Euros. the invoice was received and recorded in the company's accounts on May 31st, 2006 the exchange rate of Euros to US$ was 1 Euro=1.30 US$ and 1 Euro= 1.25 US$ on May 31st,2006 and June 30th, 2006 respectively.

Please prepare the required journal entries on May 31st and June 30th assuming that the company maintains its Accounting in U.S. dollars and closes its accounts on a quarterly basis.

what treatment should be made in books of Accounts when discount received on fixed assets purchased.
discount received should transfer to P/L Account
or
Discount should be reduced from Fixed Assets.

Receivable /Accrued/Due-
payable/Due /Accrued

what is in depreciation chart.
Addition,
Deletion/Disposal,
Accumulated Depreciation,
salvaged value,
Gross Block and
Net Block.

how to maintain books of Accounts of Head office and Branches, is any concept to maintain books of accounting,

how to make journal entry of Branch Account in books of accounts in the books of accounts in HO and branch Books.

What shall be the grouping of MTM ledger in tally. Do we need to charge Profit or Loss on daily basis till futures or options are open?

Thanks in Advance

if my company allocates its employees to its subsidiary company and provides them service, should it be treated as deduction in cost for holding company or revenue for the holding company

what is contingent Liability and matching principle.

Journal entry of stale what should passed.
For Debtors and creditors
Received Rs. 10 Lakhs on 1st Jan. 2022 But not cleared
Payment Rs. 5 Lakhs 0n 1st Jan.2022 But not cleared
12/05/2022 what entry should be passed.