Question
On 1 June 2017, TomTom Ltd made an initial cash margin deposit of $25,000 with its broker. On the same day it sold five (5)
On 1 June 2017, TomTom Ltd made an initial cash margin deposit of $25,000 with its broker. On the same day it sold five (5) "October 2017 SPI 200 futures contracts", each unit is valued at $25.
The relevant prices for 2016 are as follows:
Date1 June30 June 31 July
Market price of SPI futures144214501385
Market price of shares$175,000 $176,560 $169,000
Required: Make a Journal entriesof financial instruments
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Essentials Of Accounting For Governmental And Not-for-Profit Organizations
Authors: Paul Copley
14th Edition
1260570177, 978-1260570175
