Question
On December 1, 2016, two companies entered into a 90-day forward exchange contract for speculative purposes in which A will buy 180,000 from B at
On December 1, 2016, two companies entered into a 90-day forward exchange contract for speculative purposes in which A will buy 180,000 from B at the 90-day forward rate of $1.65/1. On December 31, 2016, the spot rate was $1.70 and the 60-day forward rate was $1.80. Prepare the journal entry to record the change in value as of 12/31/2016 for both companies
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Auditing Theory And Practice
Authors: Arun Kumar & Rachana Sharma
1st Edition
8171567207, 978-8171567201
