what is the inpact on 2018 income? please show work 03/01/2018 2,550.00 Foreign exchange loss Accounts...
what is the impact 2017 income /18? please show work. so confused on getting the answer No Credit Date 12/01/2017 General Journal Cost of goods sold Accounts payable (K) Debit 59,500.00 59,500.00 2 1 2/01/2017 No journal entry required 3 12/31/2017 1,700.00 Foreign exchange loss Accounts payable (K) 1,700.00 4 12/31/2017 2,083.14 Forward contract Accumulated other comprehensive 2,083.14 S8 EQ 25 12/31/2017 1,700.00 Accumulated other comprehensive incom Gain on forward contract 1,700.00 6 12/31/2017 425.00 Premium expense Accumulated other comprehensive...
questions i cant figure out?? Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17.000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017, Brandlin enters into a forward contract to purchase 17.000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date...
cant figure out final solution. how do you figure out . impact on 2017 income? Credit No 1 Date Date 12/01/2017 General Journal Cost of goods sold Accounts payable (K) Debit 59,500.00 59,500.00 2 12/01/2017 No journal entry required P 3 12/31/2017 1,700.00 Foreign exchange loss Accounts payable (K) 1,700.00 12/31/2017 No journal entry required 5 12/31/2017 2,083.14 Forward contract Gain on forward contract 2,083.14 12/31/2017 No journal entry required 7 03/01/2018 2,550.00 Foreign exchange loss Accounts payable (K) 2,550.00...
Please help! Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017, with payment of 30,000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017, Brandlin enters into a forward contract to purchase 30,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017...
this is the queston, a-2, a-3, a-4 cant figure out Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017 Brandlin enters into a forward contract to purchase 17.000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various...
this is the question unable to figure out?? Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017 with payment of 17.000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017 Brandlin-enters into a forward contract to purchase 17.000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as...
Icebreaker Company (a U.S.-based company) purchases materials from a foreign supplier on December 1, 2020, with payment of 27,000 dinars to be made on March 1, 2021. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2020, Icebreaker enters into a forward contract to purchase 27,000 dinars on March 1, 2021.Relevant exchange rates for the dinar on various dates are as follows: DateSpot RateForward Rate(to March 1, 2021)December 1, 2020$4.50$4.575December...
1. Record the sales and foreign currency accounts receivable. 2. Record the forward contract. 3. Record the entry for changes in the exchange rate. 4. Record the change in the fair value of the forward contract. 5. Record the gain or loss on the forward contract. 6. Record the allocation of the premium or discount. 7. Record the entry for changes in the exchange rate. 8. Record the entry to adjust the carrying value of the forward contract to its...
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 16,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 16,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date Spot Rate Forward Rate (to March 1, 2018) December 1, 2017 $ 3.40 $ 3.475 December 31, 2017 3.50 3.600 March 1,...
Brandlin Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017, with payment of 10,000 korunas to be made on March 1, 2018. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2017, Brandlin enters into a forward contract to purchase 10,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31,...