FG Ltd has a functional currency of Rands it has decided to present the financial statements in the currency of the Botswana Pula In 2022, the exchange rate is as follows: 1 Rand = 2.5 Pula AVERAGE RATE 1 Rand = 2.8 Pulas SPOT RATE (31 December 2022 Account payable R325 000 Accounts receivable R221 0 00 Bank R220 000 PPE R565 000 Investment-fair value R65 000 General Reserve R265 000 Ordinary Share Capital R200 000 Long term Loan R260 000 Sales R1 540 000 Cost of sales R1 260 000 Operating expenses R154 000 Tax R105 000 Translate the amount in the presentation currency in a trial balance format?
FG Ltd has a functional currency of Rands it has decided to present the financial statements in the currency of the Botswana Pula In 2022, the exchange rate is as follows: 1 Rand = 2.5 Pula AVERAGE RATE 1 Rand = 2.8 Pulas SPOT RATE (31 December 2022 Account payable R325 000 Accounts receivable R221 0 00 Bank R220 000 PPE R565 000 Investment-fair value R65 000 General Reserve R265 000 Ordinary Share Capital R200 000 Long term Loan R260 000 Sales R1 540 000 Cost of sales R1 260 000 Operating expenses R154 000 Tax R105 000 Translate the amount in the presentation currency in a trial balance format?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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FG Ltd has a functional currency of Rands it has decided to present the financial statements in the currency of the Botswana Pula In 2022, the exchange rate is as follows: 1 Rand = 2.5 Pula AVERAGE RATE 1 Rand = 2.8 Pulas SPOT RATE (31 December 2022 Account payable R325 000
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