How to calculate the exchange gains and losses of accounts payable?
A: The accounting entries of exchange gains and losses of accounts payable are as follows:
Debit: accounts payable
Loans: bank deposits
Financial expenses-exchange gains and losses (or debits)
case analysis
The value of materials purchased from abroad is $500. According to the contract of that day, the exchange rate between foreign currency and RMB is 1: 6.82. How to deal with the corresponding accounts?
Answer: When posting, the accounting entries are as follows:
Borrow: materials-3,465,438+00 yuan.
Loan: accounts payable -34 10 yuan.
The exchange rate change during settlement and payment is 1: 6.85:
Debit: accounts payable -34 10 yuan,
Debit: financial expenses-exchange gain/loss 15
Loan: Bank deposit -342.5
If the exchange rate falls, the difference is recorded as:
Credit: financial expenses-exchange gains and losses
The account book is written in scarlet letter of debit.
In which account will the company's exchange gains and losses be credited?
A: Generally, the exchange gains and losses of a company are included in the "financial expenses-exchange gains and losses" account, which is possible for both borrowers and borrowers.
When exchange losses occur, they are debited to "financial expenses-exchange gains and losses". Exchange gains are recorded in "financial expenses-exchange gains and losses".
Relevant accounting treatment is as follows:
Debit: bank deposit
Credit: accounts receivable
Financial expenses-exchange gains and losses (both borrowers and borrowers may)
Debit: accounts payable
Financial expenses-exchange gains and losses
Loans: bank deposits
Knowledge extension: accounting treatment of exchange gains and losses of financial expenses How to make accounting entries?