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 current fair value.
9. Record gain or loss on the forward contract.
10. Record the allocation of the premium or discount
11. Record the receipt of korunas from the foreign customer.
12. Record the settlement of the forward contract.
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 forwa...
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017, with payment of 29,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 29,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Spot Rate $ 4.70 Date December 1, 2017 December 31, 2017 March 1, 2018 Forward Rate (to March 1, 2018) $ 4.775 4.900...
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, sells parts to a foreign customer on December 1, 2017, with payment of 25,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 25,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date December 1, 2017 December 31, 2017 March 1, 2018 Spot Rate $ 4.30 4.40 4.55 Forward Rate (to March 1, 2018) $...
31. 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 December 1, 2017 December 31, 2017 March 1, 2018 $2.70 2.80 2.95 Forward Rate (to March 1, 2018) $2.775...
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,...
Brandlin Company of Anaheim, California, sells parts to a foreign customer on December 1, 2017 with payment of 23,000 korunas to be received on March 1, 2018. Brandlin enters into a forward contract on December 1, 2017, to sell 23,000 korunas on March 1, 2018 Relevant exchange rates for the koruna on various dates are as follows: Spot Rate $ 4.10 Date December 1, 2017 December 31, 2017 March 1, 2018 Fonard Rate (to March 1, 2018) $ 4.175 4.389...
please show work 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 dates are as follows: Spot Rate Date...
Brandlin Company of Anahelm, Callfornla, sells parts to a foreign customer on December 1, 2017, with payment of 14,000 korunas to be recelved on March 1, 2018. Brandlin enters Into a forward contract on December 1, 2017, to sell 14,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on varlous dates are as follows: Forward Rate (to March 1, 2818) 3.275 3.408 Spot Rate Date December 1, 2017 December 31, 2817 March 1, 2818 $ 3.28 3.38...
Company of Anaheim, California, purchases materials from a foreign supplier on December 1, 2017, with payment of 31,000 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 31,000 korunas on March 1, 2018. Relevant exchange rates for the koruna on various dates are as follows: Date Spot Rate Forward Rate (to March...
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...