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pass journal entrues The loan payable needs to be revalued at the new exchange rate...

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Accounting

pass journal entrues The loan payable needs to be revalued at the new exchange rate on 30 June 2025. The loan amount in US$ is still US$900,000. Convert this to Australian dollars using the new exchange rate (A$1 = US$0.55): [ \text{Loan Payable in A$} = \frac{\text{US$900,000}}{0.55} = \text{A$1,636,364} ] The original loan amount was A$2,000,000. The revalued amount is A$1,636,364. The difference is a gain due to the appreciation of the Australian dollar: [ \text{Foreign Exchange Gain} = \text{A

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