Nama : Nurul Aryani

NIM : 43218120075
Akuntansi Keuangan Lanjutan 1

QUIZ 4
Soal 2

An American company Pete Inc, sold its inventory to Ping Pte.Ltd for $20,000 SGD, and to Satria Tbk.
for 300,000,000 rupiah on December 1, 2014-when the spot rate for SGD is $0.798 and for Rupiah is
$0.0000875. At the same time, Pete purchased merchandise from Patay Inc. for 500,000 baht, when
the spot rate for baht is $0.031. Pete closed its books on December 31, 2014, and spot rates are
given as follows :

31-Dec-14 15-Jan-15

SGD $0.76 $0.802

IDR $0.0000911 $0.0000805
Thai Baht $0.029 $0.0318

REQUIRED : Prepare the required journal entries to account for the transactions above

Answer :

Journal, 1 Dec 2014

Sold Investaris to Ping Pte

Account Receivable $15,960
sales $15,960
*20,000 X $ 0,798 = $15,960

Sold Investaris to Satria Tbk

Account Receivable $26,250
sales $26,250
*300.000 X $ 0,000875

Sold Investaris to Patay Inc

Account Receivable $15,500
sales $15,500
*500.000 X $ 0,031

Journal Tutup Buku, 31 Dec 2014

Exchange Loss $760

Account Receivable $760
*20.000 x $0,76 = 15.200
15.200 - 15.960 = 760

Account Receivable $1,080

Exchange Gain $1,080
*Rp 300.000.000 X 0,0000911 = 27.330
27.330 - 26.250 = 1.080

Account Payable $1,000

Exchange Gain $1,000
*Rp 500.000 Bath X 0,091 = 14.500
15.500 - 14.500 = 1.000

Journal Tutup Buku, 15 Dec 2015

Cash $16,040
Exchange Loss $840
Accounting Receivable $15,200
*20.000 x 0,802 = 16.040
15.200 - 16.040 = -840

Cash $24,150
exchange Gain $3,180
Account Recevaible $27,330
*300.000.000 X 0,0000805 = 24.150
27.330 - 24.150 = 3.180

Account Payable $15,500

Exchange Gain $400
Cash $15,900
*500.000 Bath X 0,0318 = 15.900
15.900 - 15.500 = 400