Question

Question 8: On 1st January, 2018; XYZ Ltd. invoiced goods to its USA client for $ 10.000.
Payment was received on 1st March, 2018. The exchange rate was : 1st January 2018 : $ 1 =
Rs.39. 1st March, 2018:$ 1 = Rs 40. The amount of difference in exchange transferred to
Profit & Loss Account is
a. Rs 20,000
b. Rs. 10,000
c. Rs. 15,000
d. Rs. 25,000​

Answer 1

Answer:

b

Explanation:

profit for indian as the bill in Indian rupee was supposed to be Rs3,90,000 but amount received was ₹4,00,000