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Safety Ltd Purchased Goods for £20 000 from a British

Question 67

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Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ? A) B) C) D) What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ?


A)
Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ? A) B) C) D)
B)
Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ? A) B) C) D)
C)
Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ? A) B) C) D)
D)
Safety Ltd purchased goods for £20 000 from a British supplier on 1 April 2015.The amount owing on the purchase is payable on 30 July 2015.On 1 May 2015 a forward-exchange contract for the delivery of £20 000 on 30 July 2015 is taken out with Aus Bank.Safety Ltd's reporting date is 30 June.Exchange rates are as follows: What entries are required to report these transactions in accordance with AASB 121 (rounded to the nearest whole A$) ? A) B) C) D)

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