Question

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.

Answer 1

Journal Entries
In the Books of D Ltd.

Date	Particulars	L.F	Debit	Credit
2018-19
1st Aug.	B.Ltd.A/c [$2,30,000 x 50:50]		1,16,15,000
	To Sales A/c			1,16,15,000
	(Being goods sold on credit)
1st Sept.	Bank A/c [$ 09,000 x 51.50]		35,53,500
	To FFF A/c			69,000
	To B Ltd. A/C ( 69,000 x 50.50)			34,84,500
	(Being 1st Installment received)
10th Sept.	Bank A/c ($ 50,000 x 49)		24,50,000
	FEF A/c		75,000
	To B Ltd. A/c ($ 50,000 X 50:50)			25,25,000
	(Being 2nd Installment received)
30th Sept.	Bank A/c($ 1,11,000 x 52)                        Dr.		57,72,000
	To FEF A/c			1,66,500
	To B Ltd. A/c ($ 1, 11,000 x 50.50)			56,05,500
	(Being land installment received)
31st Mar.	FEF A/c                      Dr.		1,60,500
	To Profit & Loss A/c			1,60,500
	(Being FEF transferred to P & L A/c)