Accounting of Transactions of Foreign Currency Problems

A trader entered into following transactions His accounting year ends on 31st March every year.

Exchange rate of $ 1 as follows :

10th June 2014                46.75
20th June 2014                46.50
16th August 2014              48
31 51 August 2014            48.50
10 th October 2014           48.75
15th October 2014              49
3rd November 2014          48.60
15th November 2014        48.70
15th December 2014         48.40
15th January 2015              49
15th March 2015             49.50
31st March 2015                50
Give entries in the books of trader.

E Ltd. of Mumbai has sold goods worth $ 3,00,000 to B Ltd. of USA on 31st January 2018.

On 1st February 2018, $ 50,000 has been received.
On 1st March 2018, $ 80,000 has been received.
On 30th April 2018, $ 90,000 has been received.
Qn 31st May 2018, the balance has been received.
The accounting year ends on 31st March every year.
The exchange rates :
31st January.2018           '$1= Rs.51
1st February 2018          $1=Rs. 50
1st March2018                 $1 =Rs.52
31st March2018                $1=Rs.51
30th April 2018                 $1=Rs.49
31st May 2018                  $1=Rs.53
Prepare ledger accounts iri·the books of E Ltd.

D Ltd. of India has sold goods to B Ltd .of UK for $ 2,30,000 .on 1st August 2018. 30% was received on 1st September 2018. $50,000 was received on 10th September 2018.
Balance was received on·30th September 2018.

Foreign exchange rates
1st August 2018                   $1 =Rs. 50.50
1st September2018              $1 ~Rs. 51.50
10th September 2018           $1 =Rs. 49
30th September                    $.1 =Rs. 52
Give entries in the books of D Ltd.

Mr. Taitler purchased raw materials from Mis. Richo Inc. ·of USA on 1st October 2017 for US.$ 8,400. Amount to be paid in· four equal half yearly installments  commencing from1st March,2018 along with interest.@12 %. per annum:

Rate of exchange per US $ as on various dates was as follow : 

1st October 2017                     Rs. 65 per US$
31st March 2018                      Rs.66 per US$
30th September 2018              Rs. 63 per US $
31st March 2019                        Rs.64 per US$

Pass necessary Journal Entries in the books of Mr. Taitler  for the years ended 31st March, 2018 and 31st March, 2019.·

PQR Ltdh imported. goods worth US @ 4,00,000 from M/s. Nelson & Co. of U.S.A'. on 1st August, 2017 when the exchange rate was Rs . 65.00. PQR Ltd. agreed to pay the amounts in four equal in stallments as under: 

Prepare Foreign Exchange Fluctuation Account in the books of PQR Ltd.

Pass Journal entries for the following transactions in foreign currency in the books of 'Priyanka Ltd'. Priyanka Ltd exported goods to 'Jerry Trading Company', Germany worth US $ 90,000 on 10th  January, 2017, on which date exchange rate of 1 US$ was  Rs. 69.50. The payment for the same was received as under : 

'Priyanka Ltd. closes its books on 31st March every year . The  exchange rate on 31st March  2017 was 1 US $ 68.75.

Purab Ltd. Exported good to Paschim Ltd. as on 1st March, 2018 for Rs. 1,00,000  when the exchange rate was 1 BS $ = Rs. 62. The amount was received in three instalment as under :

Pass the Journal Entries for the above transactions in the books of Purab Ltd. for the year ended 31st March, 2018.

On 31st October 2017. Mis. Raman Industries Ltd: exported goods worth US $ 60,000 to Mis. WMS Co. USA. Mls  WMS C o. paid the instalment as under:

Additional Information :

1. Exchange rate as on 31.10.2017 was Rs, 65.00 per US $ and as on 31.3.2018 was Rs 64.00 per US $.
2. Accounts  are closed on 31st March every year.
3. Apply AS-11.
Prepare WMS's Co. Account U.S.A~ in the books of Mis. Raman Industries Ltd. for the year ended 31.3.2018.