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Posted on Jul 28, 2024

QUESTION 2: Foreign currency transactions (15 marks) we wc per tubes from und the word on October 1, 2021, Beletash entraded to purchase umberto Frames

QUESTION 2: Foreign currency transactions (15 marks) we wc per tubes from und the word on October 1, 2021, Beletash entraded to purchase umberto Frames for more the ed as for the good to be hon December 1, 2021, with payment due on March 11, 2012. on October 1,201, here to forward.com Canon 60.000 on March 31, 2002. tate of $1.50. BelleBirch's year end is October The merchand was delivered to belietoth on December 1, 2021. On March 11, 2012, Betlebirth received C100,000 from the Canadian tand and in tumped the supplier on the Friday, October 201 Sunday, October 11, 2001 Wednesday December 2021 Thunday, March 11. 2022 Forward Spot Rate Rate ISLAY C151.50 C$1.50 ($1.52 151.51 (15153 (15159 MOLED Prepare all journal entries for chineling to the merchandise purchase and forward contract. Assume the forward contract is designed as a cow hede 0 2 34 tai. Use the world and template provided below: I). Select the appropriate account names using the drop-down bowers provided. U DEBIT in of journal entry before CREDITS CREDIT Inveen Indented for you SPECIFIC d. I no entry is needed, select propriately from the drop down box for the debit row ONLY INSTRUCTIONS ) Marts will be pre for the correct sumal entry and NOT for which side the entry appear (Purchase from Supplier or forward Contract, mother words, you just need to thew the entry to get the man w. There could be more under one of the column sections Purchase from Supplier of Forward Contract) than is needed for a journal entre Mesure to show in the boy was NOT FORWARD CONTRACT ACCOUNT CREDIT DET CREDIT PURCHASE FROM SUPPLIER ACCOUNT Not Purchase Date 1/21 DENT 600.000 Receivable from Bank QUESTION 2: Foreign currency transactions (15 marks) we wc per tubes from und the word on October 1, 2021, Beletash entraded to purchase umberto Frames for more the ed as for the good to be hon December 1, 2021, with payment due on March 11, 2012. on October 1,201, here to forward.com Canon 60.000 on March 31, 2002. tate of $1.50. BelleBirch's year end is October The merchand was delivered to belietoth on December 1, 2021. On March 11, 2012, Betlebirth received C100,000 from the Canadian tand and in tumped the supplier on the Friday, October 201 Sunday, October 11, 2001 Wednesday December 2021 Thunday, March 11. 2022 Forward Spot Rate Rate ISLAY C151.50 C$1.50 ($1.52 151.51 (15153 (15159 MOLED Prepare all journal entries for chineling to the merchandise purchase and forward contract. Assume the forward contract is designed as a cow hede 0 2 34 tai. Use the world and template provided below: I). Select the appropriate account names using the drop-down bowers provided. U DEBIT in of journal entry before CREDITS CREDIT Inveen Indented for you SPECIFIC d. I no entry is needed, select propriately from the drop down box for the debit row ONLY INSTRUCTIONS ) Marts will be pre for the correct sumal entry and NOT for which side the entry appear (Purchase from Supplier or forward Contract, mother words, you just need to thew the entry to get the man w. There could be more under one of the column sections Purchase from Supplier of Forward Contract) than is needed for a journal entre Mesure to show in the boy was NOT FORWARD CONTRACT ACCOUNT CREDIT DET CREDIT PURCHASE FROM SUPPLIER ACCOUNT Not Purchase Date 1/21 DENT 600.000 Receivable from Bank