18 October 2011
X Ltd. purchased a machinery from america on june 15 for 1000$. the machine will start to put to use on aug.15. the payment will be due on dec.15. balacne sheet date is sept 30. foreign exchange rate is on june 15 $1= rs. 45 on aug 15 $1 = rs. 47 on sept. 30 $1= rs. 49 on dec. 15 $1 = rs. 51 i want to know the accounting entries made in the books of X ltd. plz suggest the ans.