Company a is a limited liability company with RMB as its bookkeeping base currency. The following foreign currency transactions or events occurred in the company from January 7 to March 5. Company a purchased thousands of B shares of company X (US $3 each) with the spot exchange rate of US $1 and the transaction costs paid by company a of 1000 yuan.
Company a classified the investment as trading holding until January, 2015 Company X still holds the investment. The fair value of the equity is: USD per share on mm / DD / yyyy × equipment y purchased by company a from overseas company at the spot exchange rate of USD 1000 on the purchase date. According to the purchase agreement, the purchase price will be settled within the month.
Although the goods have been delivered immediately, on February 4, the company sold the products to an American company with a sales price of US $1000 No customs duties are levied and the goods are delivered immediately. The exchange rate on February is 1 US dollars = ￥ assuming that there is no value-added tax on export products, the company accepts investors' investment of US $1000 on March 1, and the spot exchange rate on that day is US $1. The exchange rate stipulated in the investment contract is US $1 = ￥ remitted to the bank account of company a on March 1 after investment, and the total capital of company a is thousand Among them, investor w accounts for% of other information, the closing exchange rate on March 7 is US $1 = the opening balance of foreign currency monetary account of company B on December 6, as shown in the table below.
Prepare the above accounting entries, determine the book value of investment in x s company B shares, prepare relevant accounting entries, calculate the exchange income (or expense) of foreign currency monetary items in the first quarter of × 7, and prepare and recognize foreign exchange income（ On December 6, the exchange rate of thousand US dollars was 1000 yuan, accounts receivable and accounts payable, bank deposit 2.
Closing balance sheet assets beginning of the year: current assets inventory cash cash cash receivable bank notes cash receivables less: allowance for bad debts of suppliers received in advance and other receivables deferred and prepaid expenses inventory, including: construction lease in other current assets total current assets long term investment long term investment fixed assets fixed assets cost less: accumulated depreciation net value of fixed assets disposal fixed assets Construction in progress intangible assets land ownership other intangible assets total intangible assets other assets organizations have accrued deferred income tax debit other deferred expenses and deferred exchange losses total other assets total balance sheet liabilities and owner's equity beginning and end of the period: current liabilities short term loan accounts payable prepayment inter company current accounts accrued payroll tax payable other accounts payable Accrued expenses welfare fund current liabilities Total long-term liabilities Total long-term loans long-term liabilities other liabilities Deferred income tax income credit other deferred prepayments and deferred exchange profits total other liabilities Total other liabilities: Investor's equity legal capital paid in capital Chinese investment foreign investment less: return investment capital reserve fund expansion fund current profit retained earnings investor's equity liabilities total Amount + owner's equity.
The six basic elements of accounting are assets, liabilities, shareholders' equity, income, expenses and net income. The first three common elements in an enterprise's balance sheet can be linked by the following equation: Assets = Liabilities + equity. The latter three elements are the main components of the enterprise's balance sheet.
The income statement is logically linked: net income = income and expenditure. More specifically, assets, liabilities and equity represent the income and expenditure of a company at a certain point in time The ability of a company to increase assets and liabilities through timely recognition of these factors over a period of time, and users of financial statements will be able to better s the company's future financial situation.