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Ben Inc. uses oil to operate its machines ( fuel expense ) . Ben enters into a call option contract with Holly Investment Co .
Ben Inc. uses oil to operate its machines fuel expense Ben enters into a call option contract with Holly Investment Co on November This contract gives Ben the option to purchase barrels of oil at $ per barrel on January which the barrels will be used for operation in January. One barrel of oil is trading at $ on November at which time Ben pays $ for the call option. Required: Prepare all necessary journal entries on Bens book at November Prepare all necessary journal entries on Bens book at December assuming that the price of one barrel of oil has risen to $ Prepare all necessary journal entries on Bens book at January Ben Inc. uses oil to operate its machines fuel expense Ben enters into a call option contract with Holly Investment Co on November This contract gives Ben the option to purchase barrels of oil at $ per barrel on January which the barrels will be used for operation in January. One barrel of oil is trading at $ on November at which time Ben pays $ for the call option. Required: Prepare all necessary journal entries on Bens book at November Prepare all necessary journal entries on Bens book at December assuming that the price of one barrel of oil has risen to $ Prepare all necessary journal entries on Bens book at January
Ben Inc. uses oil to operate its machines fuel expense Ben enters into a call option contract with Holly Investment Co on November This contract gives Ben the option to purchase barrels of oil at $ per barrel on January which the barrels will be used for operation in January. One barrel of oil is trading at $ on November at which time Ben pays $ for the call option.
Required:
Prepare all necessary journal entries on Bens book at November
Prepare all necessary journal entries on Bens book at December assuming that the price of one barrel of oil has risen to $
Prepare all necessary journal entries on Bens book at January Ben Inc. uses oil to operate its machines fuel expense Ben enters into a call option contract with Holly Investment Co on November This contract gives Ben the option to purchase barrels of oil at $ per barrel on January which the barrels will be used for operation in January. One barrel of oil is trading at $ on November at which time Ben pays $ for the call option.
Required:
Prepare all necessary journal entries on Bens book at November
Prepare all necessary journal entries on Bens book at December assuming that the price of one barrel of oil has risen to $
Prepare all necessary journal entries on Bens book at January
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