Question

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.

Answer 1

In the Books of E Ltd.
B Ltd. A/c 

Date	Particulars	Amt.	Date	Particulars	Amt.
2017-18			2017-18
31st Jan.	To Sales A/c	1,53,00,000	1st Feb.	By Bank A/c	25,00,000
	($ 3,00,000 x 51)			($ 50,000 x 50)
1st Mar.	To FEF A/c	80,000	1st Feb.	By FEF A/c ($ 50,000 x 1)	50,000
	($ 80,000 x 1)		1st Mar	By Bank ($ 80,000 x 52)	41,60,000
		1,53,80,000	31st Mar.	By Bal. c/d	86,70,000
2018-19			2018-19
1st Apr	To Bal b/d	86,70,000	30th Apr.	ByBankA/c	44,10,000
31st May	To FEF A/c	1,60,000		(90,000 x 49)
			30th Apr	By FEF A/c	1,80,000
				($ 90,000 x 2)
			31st May	By Bank A/c	42,40,000
				($ 80,000 x 53)
		88.30.000			88.30.000

Foreing Exchange Fluctuation A/c

Date	Particulars	Amt.	Date	Particulars	Amt.
2017-18			2017·18
1st Feb	To B Ltd. A/c	50,000	1st Mar	By B Ltd.A/c	80,000
31st Mar	To P&L A/c	30.000
		80,000	2018-19
2018-19			31st May	By B Ltd. A/c	1,60,000
30th  Apr	To B Ltd. A/c	1,80,000	31st May	By P&L A/c	20,000
		1,80,000			1,80,000