Nama : Nurul Aryani

NIM : 43218120075
Akuntansi Keuangan Lanjutan 1

QUIZ 4
Soal 1

A US Company Abe Inc. sold its inventory to Poui SA for $20,000, and to Brit Ltd. For 20,000 euros
on December 10,2013 when the spot rate for euros is $0.723. Abe closed its books on December
31, 2014, when the spot rate for Euro is $0.718, and collected the amount from the sale on January
10, 2014, when the spot rate for Euro is $0.730.

REQUIRED : Prepare all necessary journal entries to account for the transactions above

Answer :

Journal, 10 Dec 2013

Sold Investory to Poui SA
Account Receivable $20,000
sales $20,000

Sold Investory to Brit Ltd.

Account Receivable $14,460
sales $14,460

Journal, 31 Dec 2013

Loss on Echannge Currency $100

Account Receivable $100
*20.000 x (0,723-0,718)

Journal, 10 Jan 2014

Collected From Poui SA
Cash $20,000
Account Receivable $20,000

Collected From Brit Ltd.

Cash $14,600
Gain on Exchange Currency $240
Account Receivable $14,360

Notes :
*Cash = 20.000 X 0,730
* AR =14.460 - 100
= 14.360