Professional Documents
Culture Documents
1 Lessee Ltd leased plant costing Rs xxx crores from Lessor Ltd for a tenor of 5 years (usef
was 10 years). The monthly lease rent was 1.25% of Rs xxx crores. No buy options for Le
Direct costs of 0.50% of Rs xxx cr were incurred by Lessee Ltd and 0.65% of Rs xxx by Les
2 Suppose the above lease had been for a tenor of 8 years, what would be your stand why
Show extracts from the two companies P&L and Balance Sheet for day one and years on
3 Seller Ltd had a plant with carrying value of Rs yyy crores. This was sold to Leasing Ltd fo
and leased back for a tenor of 3 years, the lease rent being Rs 0.06yyy crores per month
is a finance lease
Show extracts from the two companies P&L and Balance Sheet for day one and years on
Questions on Forex
1 Importer Ltd bought machinery costing USD zzz million on Jan 5, 2013 from a German ve
This was paid on May 6, 2013
The machine was installed on Feb 15, 2013
Depreciation was charged at 6% straight line
Show extracts from the two companies P&L and Balance Sheet for day one and years on
Assume functional currency of the German company to be EUR
Get forex data from www.oanda.com
2 If the above payment was funded by a USD loan of equivalent amount from SBI, and this
was to be repaid in 100 monthly instalments and carried an interest of 5%
Show extracts from Importer Ltd P&L and Balance Sheet for all relevant dates upto June
Assume USD INR on June 30, 2013 to be Rs 61.05
3 Exporter Ltd sold product for USD aaa million on Oct 31, 2012
It received 25% on Dec 5, 2012; another 50% on Jan 15, 2013
Show extracts from Exporter Ltd P&L and Balance Sheet for all relevant dates upto June
Assume USD INR on June 30, 2013 to be Rs 61.05
Other dates get data from www.oanda.com
All the above questions are indicative
I want you to tailor the question to your Group
The following logic to be adopted
Let all alphabets be serially numbered 1 to 26
Take the first alphabet of your surname (each member of the Group)
Work out the average number
This is the number that will replace xxx, yyy, zzz and aaa above
If any information is found to be inadequate, please make your own assumptions and add to the av
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
Divya
Priti
Chandan
Poojan
Swagtam
Averge
Mohan
Sahay
Agrawal
Shah
Chakravarty
13
19
1
19
3
11
Lessee Ltd leased plant costing Rs xxx crores from Lessor Ltd for a tenor of 5 years (useful life of the
was 10 years). The monthly lease rent was 1.25% of Rs xxx crores. No buy options for Lessee Ltd
Direct costs of 0.50% of Rs xxx cr were incurred by Lessee Ltd and 0.65% of Rs xxx by Lessor Ltd
What type of a lease is this and why
Show extracts from the two companies P&L and Balance Sheet for day one and years one to five
This is an operating lease, since life of the plant is 10 yrs but lease is valid only for 5 yrs( 50 % of t
Also, there is no provision to buy the plant. So , it is a case of opertaing lease.
Assumption :
1)The direct Cost incurred by Lessee Ltd is 5 % each year on the historical cost of asset.
2)The direct Cost incurred by Lessor Ltd is 6.5 % each year on the historical cost of asset.
3) The deprecdiation method used is "Straight line method" with asset life = 10yrs
Cost of Plant
Lease rental
1.25%
Direct cost to Lessor
6.50%
Direct cost to Lessee
5.00%
Yearly deprecciation (Assuming SL)
11 cr
Liability
1.1 crore
After 1 Day
11
P/L
No Lease related entry
After 1 yr
Lessor Ltd.
Liability
Assset
Plant
less: acc. Depn
Net
11
1.1
9.9
P/L
Revenue
ABC
Interest Income
1.65
less: Direct expenses
0.715
GrosS Income
BBB
less: Depcretion
1.1
EBIT
CCC
After 2 yr
Lessor Ltd. Balance Sheet
Assset
Plant
less Deon
Net
Liability
11
2.2
8.8
P/L
Revenue
ABC
Interest Income
1.65
less: Direct expenses
0.715
GrosS Income
BBB
less: Depcretion
1.1
EBIT
CCC
After 3 yr
Lessor Ltd.
Liability
Assset
Plant
less:Accm. Deon
Net
P/L
Revenue
ABC
Interest Income
1.65
less: Direct expenses
0.715
GrosS Income
BBB
less: Depcretion
1.1
11
3.3
7.7
EBIT
CCC
After 4 yr
Lessor Ltd.Balnce Sheet
Assset
Plant
less:Accm. Deon
Net
Liability
11
4.4
6.6
P/L
Revenue
ABC
Interest Income
1.65
less: Direct expenses
0.715
GrosS Income
BBB
less: Depcretion
1.1
EBIT
CCC
After 5 yr
Lessor Ltd.Balnce Sheet
Assset
Plant
less:Accm. Deon
Net
Liability
P/L
Revenue
ABC
Interest Income
1.65
less: Direct expenses
0.715
GrosS Income
BBB
less: Depcretion
1.1
EBIT
CCC
11
5.5
5.5
al cost of asset.
ical cost of asset.
ife = 10yrs
Liability
No change
Liability
No change
Lessee Ltd.
Assset
No change
P/L
Rent Expense
Direct expenses
Liability
No change
1.65
0.55
P/L
Rent Expense
Direct expenses
1.65
0.55
Lessee Ltd.
Liability
Assset
No change due to lease
No change
P/L
Rent Expense
Direct expenses
1.65
0.55
P/L
Rent Expense
Direct expenses
1.65
0.55
P/L
Rent Expense
Direct expenses
1.65
0.55
Suppose the above lease had been for a tenor of 8 years, what would be your stand why
If lease is for 8 years and the useful life is 10 years. The %age of lease peiod to useful life is 80%
It will be treated as finance lease
Cost of Plant
110,000,000.00
Lease rental @
1.25%
1,375,000.00
Direct cost to Lessor
6.50%
Direct cost to Lessee
5.00%
yearly deprecciation (Assuming SL)
11000000
Salvage vale
After signing lease
Lessor Ltd.
Liability
Assset
Lease recv
110,000,000.00
P/L
No change
After 1 year
Lessor Ltd.
Liability
Assset
Lease recv
Cash
P/L
Interest Income 4,882,894.13
Direct cost
7,150,000.00
98,382,894.13
1,375,000.00
After 2 years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
86,212,378.30
1,375,000.00
P/L
Interest Income 4,329,484.17
Direct cost
7,150,000.00
After 3 years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
73,462,089.44
1,375,000.00
P/L
Interest Income 3,749,711.14
Direct cost
7,150,000.00
after 4 yeasr
Lessor Ltd.
Liability
Assset
Lease recv
Cash
P/L
Interest Income 3,142,319.16
Direct cost
7,150,000.00
60,104,408.60
1,375,000.00
after 5 years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
46,110,401.15
1,375,000.00
P/L
Interest Income 2,505,992.55
Direct cost
7,150,000.00
After 6 years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
31,449,754.07
1,375,000.00
P/L
Interest Income 1,839,352.92
Direct cost
7,150,000.00
After 7 years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
P/L
16,090,710.31
1,375,000.00
After 8 Years
Lessor Ltd.
Liability
Assset
Lease recv
Cash
P/L
Interest Income 409,289.69
Direct cost
7,150,000.00
0.00
1,375,000.00
Show extracts from the two companies P&L and Balance Sheet for day one and years one to eight
Assumption :
o useful life is 80%
1)The direct Cost incurred by Lessee Ltd is 5 % each year on the historical cost of ass
2)The direct Cost incurred by Lessor Ltd is 6.5 % each year on the historical cost of a
3) The deprecdiation method used is "Straight line method" with asset life = 10yrs
Plant Value after 8 year
22000000
Implicit rate
0.389%
Salvage vale
22000000
Lessee Ltd.
Liability
Asset
Lease payable 110,000,000.00 Plant
110,000,000.00
P/L
No change
Lessee Ltd.
Liability
Lease payable
Asset
98,382,894.13 Plant
110,000,000.00
less: Accm. Depn 11,000,000.00
Net Plant
99,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
4,882,894.13
Lessee Ltd.
Liability
Lease payable
Asset
86,212,378.30 Plant
110,000,000.00
less: Accm. Depn 22,000,000.00
Net Plant
88,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
4,329,484.17
Lessee Ltd.
Liability
Lease payable
Asset
73,462,089.44 Plant
110,000,000.00
less: Accm. Depn 33,000,000.00
Net Plant
77,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
3,749,711.14
Lessee Ltd.
Liability
Lease payable
Asset
60,104,408.60 Plant
110,000,000.00
less: Accm. Depn 44,000,000.00
Net Plant
66,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
3,142,319.16
Repayment of lease
13,357,680.84
Lessee Ltd.
Liability
Lease payable
Asset
46,110,401.15 Plant
110,000,000.00
less: Accm. Depn 55,000,000.00
Net Plant
55,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
2,505,992.55
Lessee Ltd.
Liability
Lease payable
Asset
31,449,754.07 Plant
110,000,000.00
less: Accm. Depn 66,000,000.00
Net Plant
44,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
1,839,352.92
Lessee Ltd.
Liability
Lease payable
Asset
16,090,710.31 Plant
110,000,000.00
less: Accm. Depn 77,000,000.00
Net Plant
33,000,000.00
P/L
Depn
11,000,000.00
Direct cost
Interest Paid
5,500,000.00
1,140,956.24
Lessee Ltd.
Liability
Lease payable
Asset
0.00 Plant
110,000,000.00
less: Accm. Depn 88,000,000.00
Net Plant
22,000,000.00
P/L
Depn
Direct cost
Interest Paid
11,000,000.00
5,500,000.00
409,289.69
Interest
427423.3
423741.3
420045
416334.4
412609.3
408869.8
405115.7
401347.1
397563.8
393765.8
389953.1
386125.5
382283.1
378425.7
374553.3
370665.9
366763.4
362845.8
358912.9
354964.7
351001.2
347022.3
343027.9
339018
334992.5
330951.4
326894.6
322822
Principal repay
947576.7381
951258.7049
954954.9785
958665.6146
962390.669
966130.1977
969884.257
973652.9033
977436.1933
981234.1839
985046.9322
988874.4956
992716.9316
996574.2981
1000446.653
1004334.055
1008236.561
1012154.232
1016087.125
1020035.3
1023998.817
1027977.734
1031972.112
1035982.011
1040007.491
1044048.613
1048105.437
1052178.025
PrincipalBal
110000000
109052423.3
108101164.6
107146209.6
106187544
105225153.3
104259023.1
103289138.8
102315485.9
101338049.7
100356815.6
99371768.63
98382894.13
97390177.2
96393602.9
95393156.25
94388822.19
93380585.63
92368431.4
91352344.28
90332308.98
89308310.16
88280332.43
87248360.31
86212378.3
85172370.81
84128322.2
83080216.76
82028038.74
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
318733.6
314629.3
310509
306372.8
302220.4
298052
293867.3
289666.4
285449.1
281215.5
276965.4
272698.8
268415.7
264115.8
259799.3
255466
251115.9
246748.8
242364.8
237963.8
233545.7
229110.3
224657.8
220188
215700.7
211196.1
206673.9
202134.2
197576.9
193001.8
188408.9
183798.2
179169.6
174523
169858.4
165175.6
160474.6
1056266.437
1060370.736
1064490.983
1068627.239
1072779.568
1076948.031
1081132.691
1085333.612
1089550.856
1093784.486
1098034.567
1102301.163
1106584.337
1110884.154
1115200.679
1119533.977
1123884.112
1128251.15
1132635.157
1137036.199
1141454.342
1145889.652
1150342.197
1154812.042
1159299.256
1163803.906
1168326.059
1172865.784
1177423.149
1181998.222
1186591.072
1191201.769
1195830.381
1200476.979
1205141.631
1209824.409
1214525.383
80971772.3
79911401.56
78846910.58
77778283.34
76705503.77
75628555.74
74547423.05
73462089.44
72372538.58
71278754.10
70180719.53
69078418.37
67971834.03
66860949.88
65745749.20
64626215.22
63502331.11
62374079.96
61241444.80
60104408.60
58962954.26
57817064.61
56666722.41
55511910.37
54352611.11
53188807.21
52020481.15
50847615.36
49670192.21
48488193.99
47301602.92
46110401.15
44914570.77
43714093.79
42508952.16
41299127.75
40084602.37
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
1375000
155755.4
151017.8
146261.8
141487.3
136694.3
131882.7
127052.3
122203.2
117335.3
112448.4
107542.6
102617.7
97673.6
92710.34
87727.79
82725.88
77704.53
72663.68
67603.23
62523.13
57423.28
52303.62
47164.06
42004.53
36824.96
31625.26
26405.35
21165.16
15904.61
10623.62
5322.111
1219244.623
1223982.2
1228738.186
1233512.652
1238305.671
1243117.313
1247947.652
1252796.759
1257664.709
1262551.574
1267457.428
1272382.344
1277326.397
1282289.661
1287272.21
1292274.12
1297295.466
1302336.323
1307396.767
1312476.874
1317576.721
1322696.384
1327835.94
1332995.467
1338175.042
1343374.743
1348594.649
1353834.837
1359095.387
1364376.378
1369677.889
38865357.74
37641375.54
36412637.36
35179124.70
33940819.03
32697701.72
31449754.07
30196957.31
28939292.60
27676741.03
26409283.60
25136901.25
23859574.86
22577285.20
21290012.99
19997738.87
18700443.40
17398107.08
16090710.31
14778233.44
13460656.72
12137960.33
10810124.39
9477128.93
8138953.88
6795579.14
5446984.49
4093149.65
2734054.27
1369677.89
0.00
Seller Ltd had a plant with carrying value of Rs yyy crores. This was sold to Leasing Ltd for Rs 1.5yyy
and leased back for a tenor of 3 years, the lease rent being Rs 0.06yyy crores per month. Assuming
The plant has been sold at a price above its carrying value. The gains made on such a sale has to
Plant cost
Sold to Leasing ltd
Lease rent
Tenor
Implicit return
110,000,000.00
165,000,000.00
6,600,000.00 per month
3 years
2.121%
(When plant is purchased)
Liability
Leasing ltd.
Asset
Liability
Plant
16.5 cr
No entry
When plant is leased out
Liability
Leasing ltd.
Asset
Lease receivable
Liability
16.5 cr
Lease payable
no entry
After 1 year
Liability
Leasing ltd.
Asset
Cash
Lease receivable
Liability
79,200,000.00
123,136,023.93
Lease payable
37,336,023.93
Depn
Gain on selling
Interest Paid
After 2 year
Liability
Leasing ltd.
Asset
Cash
Lease receivable
79,200,000.00
69,280,902.90
Liability
Lease payable
25,344,878.97
Depn
Gain on selling
Interest Paid
After 3 year
Liability
Leasing ltd.
Asset
Cash
79,200,000.00
Lease recv. Removed
Liability
Lease Payable removed fro
Liabilities
9,919,097.10
Depn
Gain on selling
Interest Paid
on such a sale has to be capitalised over the period of lease that is over 3 years.
purchased)
Seller Ltd.
Asset
Remove Plant from asset
Seller Ltd.
Asset
16.5 cr
Plant
16.5 cr
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Seller Ltd.
Asset
Plant
123,136,023.93 Depn
Net Plant
165,000,000.00
55,000,000.00
110,000,000.00
Seller Ltd.
Asset
69,280,902.90 Plant
165,000,000.00
less: Accm. Depn 110,000,000.00
Net Plant
55,000,000.00
P&L Seller Ltd.
55,000,000.00
18,333,333.33
25,344,878.97
Seller Ltd.
Asset
e Payable removed from the Asset is removed since it has depreciated
24
25
26
27
28
29
30
31
32
33
34
35
36
18,333,333.33
9,919,097.10
Monthly
Cashflow
-165000000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
Interest
3499838
3434080
3366928
3298350
3228319
3156802
3083767
3009184
2933019
2855238
2775807
2694692
2611856
2527263
2440875
2352655
2262564
2170562
2076609
1980663
1882681
1782622
1680439
Principal repay
PrincipalBal
165000000
3100162 161899838.4
3165920 158733918.8
3233072 155500846.4
3301650 152199196.9
3371681 148827515.6
3443198 145384317.1
3516233 141868084.4
3590816 138277268.5
3666981 134610287.2
3744762 130865525.1
3824193 127041332.2
3905308 123136023.9
3988144 119147879.6
4072737 115075142.1
4159125 110916017.3
4247345 106668672.6
4337436 102331236.9
4429438 97901799.29
4523391 93378408.22
4619337 88759070.86
4717319 84041752.08
4817378 79224373.59
4919561 74304812.99
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
6600000
1576090
1469527
1360704
1249572
1136084
1020188
901833.6
780969
657540.7
531494.4
402774.5
271324.2
137085.8
5023910
5130473
5239296
5350428
5463916
5579812
5698166
5819031
5942459
6068506
6197226
6328676
6462914
69280902.9
64150429.95
58911133.8
53560706.2
48096789.93
42516977.75
36818811.39
30999780.41
25057321.14
18988815.53
12791589.98
6462914.211
0.00
110,000,000.00
165,000,000.00
6,600,000.00 per month
3 years
The plant has been sold at a price above its carrying value. The gains made on such a sale has to
(When plant is purchased)
Leasing ltd.
Liability
Asset
Liability
Plant
16.5 cr
(the gains will realised
Leasing ltd.
Asset
Plant
Liability
No change
16.5 cr
After 1 year
Liability
Leasing ltd.
Asset
Plant
Depn
Liability
165,000,000.00
55,000,000.00
Net Plant
110,000,000.00
79,200,000.00
55,000,000.00
Rent Paid
Gain on selling
After 2 year
Liability
Leasing ltd.
Asset
Plant
Depn
Net Plant
Liability
165,000,000.00
110,000,000.00
55,000,000.00
79,200,000.00
55,000,000.00
Rent Paid
Gain on selling
After 3 year
Liability
Leasing ltd.
Asset
Plant
Depn
Net Plant
Liability
165,000,000.00
165,000,000.00
-
79,200,000.00
55,000,000.00
Rent Paid
Gain on selling
on such a sale has to be capitalised over the period of lease that is over 3 years.
t is purchased)
Seller Ltd.
Asset
Remove Plant from asset
the gains will realised over the period of lease that is 3years)
P&L Seller Ltd.
is leased out
o change
Seller Ltd.
Asset
No change
Seller Ltd.
Asset
Cash reduces by
79,200,000.00
ain on selling
79,200,000.00
18,333,333.33
Seller Ltd.
Asset
Cash reduces by
79,200,000.00
ain on selling
79,200,000.00
18,333,333.33
Seller Ltd.
Asset
Cash reduces by
ain on selling
79,200,000.00
18,333,333.33
79,200,000.00
Importer Ltd bought machinery costing USD zzz million on Jan 5, 2013 from a German vendor
This was paid on May 6, 2013 The machine was installed on Feb 15, 2013
Show extracts from the two companies P&L and Balance Sheet for day one and years one to three
Depreciation was charged at 6% straight lineAssume functional currency of the German company to
Currency Rates
54.89
54.355
53.362
5-Jan-13 USD/INR
31-Mar-13 USD/INR
6-May-13 USD/INR
EUR/USD
EUR/USD
EUR/USD
1.31125
1.28163
1.30347
11 USD million
Dr
14.42375
To Sales
14.42375
0.32582
0.32582
Debtors as on 31 Mar 13
14.09793
P&L Sales
P&L Forex Loss
6-May-13 Bank
14.42375
0.32582
Dr
14.33817
To Debtors
To Forex Gain
14.09793
0.24024
Dr
603.79
To Vendor Payable
603.79
31-Mar-13 Depreciation
Dr
4.528425
To Accumulated Depreciation
31-Mar-13 Vendor Payable
Dr
To Forex Fluctuation
4.528425
5.885
5.885
P&L Ex
603.79
Accumulated Depreciation
Net Block
Vendor Payable Liability
Depreciation
4.528425
599.26158
Forex Gain
597.905
Year 2
6-May-13 Vendor Payable
Dr
To Bank
To Forex Gain
597.905
586.982
10.923
Year 3
603.79
40.755825
563.03418
0 Paid off
Depreciation
Forex Gain
Balance Sheet
Machinery Account
Accumulated Depreciation
Net Block
Vendor Payable Liability
603.79
76.983225
526.80678
0 Paid off
Depreciation
Forex Gain
German vendor
P&L Extracts
epreciation
epreciation
4.528425
5.885
P&L Extracts
36.2274
10.923
epreciation
P&L
36.2274
0
If the above payment was funded by a USD loan of equivalent amount from SBI, and this loan
Show extracts from Importer Ltd P&L and Balance Sheet for all relevant dates upto June 30, 2013
Assume USD INR on June 30, 2013 to be Rs 61.05
Other dates get data from www.oa
Currency Table
5-Jan-13 USD/INR
54.89
EUR/USD
1.31125
31-Mar-13 USD/INR
54.355
EUR/USD
1.28163
6-May-13 USD/INR
53.362
EUR/USD
1.30347
41431 USD/INR
60.464
30-Jun-13 USD/INR
61.5
Amortisation Schedule
Principal remaining
Principal Payment Interest
6-May-13
11
6-Jun-13
11
30-Jun-13
10.89
0.11
Total Installment
Closing Principal
0.045833333 0.15583333
10.89
0.03580274
Dr
586.982
To Loan
6-May-13 Vendor Payable
586.982
Dr
250.033
To Bank
245.4652
To Forex Gain
6-Jun-13 Forex Loss
4.5678
Dr
0.78122
To Loan
6-Jun-13 Loan
Interest
0.78122
Dr
6.65104
Dr
2.77126667
To Bank
30-Jun-13 Forex Loss
9.42230667
Dr
To Loan
88.62282
88.62282
30-Jun-13 Interest
Dr
To Accrued Interest Dr
2.20186849
2.20186849
252.494
84.83624
Accumulated Depreciation
41.2873536
Net Block
296.042886
Loan Payable
669.735
Accrued Interest
2.20186849
P&L Extracts
Depreciation
Interest
5.0599536
2.20186849
669.735
Exporter Ltd sold product for USD aaa million on Oct 31,It2012
received 25% on Dec 5, 2012; another 50% on Jan 15, 2013
Show extracts from Exporter Ltd P&L and Balance Sheet for all relevant dates upto June 30, 2013
Assume USD INR on June 30, 2013 to be Rs 61.05
Currency Table
31-Oct-12 USD/INR
53.9689
5-Dec-12 USD/INR
54.6348
15-Jan-13 USD/INR
54.5658
31-Mar-13 USD/INR
54.355
30-Jun-13 USD/INR
61.05
Sales
11 USD Million
31-Oct-12 Debtors
Dr
593.6579
To Sales
5-Dec-12 Bank
593.6579
Dr
150.2457
To Debtors
148.414475
To Forex Gain
15-Jan-13 Bank
1.831225
Dr
300.1119
To Debtors
296.82895
To Forex Gain
31-Mar-13 Debtors
3.28295
Dr
1.061775
To Forex Gain
1.061775
3/31/2013
Balance sheet
Liability
ASSET
Debtors
149.47625
P&L Statement
Sales
On 31 Oct
593.6579
On 31 Mar
Forex Gain
6.17595
Calculation
30-Jun-13 Debtors
(entry)
Dr
To Forex Gain
18.41125
On 31 Mar
18.41125
On 30 Jun
148.414475
149.47625
6/30/2013
ASSET
Balance sheet
Liability
Debtors
167.8875
P&L statement
Sales
Forex Gain
149.47625
167.8875
18.41125