Check sibling questions

Case 4A

First Goods Imported, then Payment Made
Goods imported $ 1000 from Max Ltd,USA.

Date Descripton Exchange
10-Feb Booking of Order 60/$
14-Feb Date of Goods Entering India 61/$
15-Feb Rate as per Bill of Entry 62/$
16-Feb Date of Goods Entering

Payment not made till Balance Sheet date 31 March

View Answer

Case 4B

Suppose payment actually made on 5 April when the exchange rate was Rs 64/$

View Answer

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.