Exchange gain or loss ??

940 views 1 replies

have problem in the import purchases: Suppose I paid $5000 @ 45.15 on 25/5/2009 in advance for purchases of material which cost me $25000, I received the material on 30/6/2009, I paid balance amt on 25/6/2009 @ 47.20. On import doc. there is specifically indicate tht it is D/P transaction.so at the time of passing the entry rate will have to taken as per BOE for whole $25000 or $25000 @ 47.20

I'm PCC student , I want to clear my concept !!

pls help me.my email id

surbhinaik88 @ yahoo.com
Replies (1)

on final payment entry should be passed with $20000*47.20= 944000

regards,

ratan

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