As-11
This query is : Resolved
12 June 2013
Dear Experts,
A Pvt Ltd company imports Mobile Phones from China and remits USD to settle the amount. The company has imported goods in the month dated 20 March'13 and the amount is paid in April. It has raised Creditors by taking the exchange rate as per Bill of Entry (Customs Copy)of 20 March'13. How we have to report the Creditors as on 31 March'13?
A Pvt Ltd company imports Mobile Phones from China and remits USD to settle the amount. The company has imported goods in the month dated 20 March'13 and the amount is paid in April. It has raised Creditors by taking the exchange rate as per Bill of Entry (Customs Copy)of 20 March'13. How we have to report the Creditors as on 31 March'13?
12 June 2013
Dear Amit,
Taken the ER as on 31.03.2013,and restate the creditors balances.
Taken the ER as on 31.03.2013,and restate the creditors balances.
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