Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

Stem Ltd. purchased a Plant for US$ 30,000 on 30th November, 2013 payable after 6 months. The company entered into a forward contract for 6

Stem Ltd. purchased a Plant for US$ 30,000 on 30th November, 2013 payable after 6 months. The company entered into a forward contract for 6 months @ Rupees 62.15 per dollar. On 30th November, 2013, the exchange rate was Rupees 60.75 per dollar. How will you recognise the profit or loss on forward contract in the books of Stem Ltd. for the year ended 31st March, 2014 ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

4. Shift sensory channels by giving a lesson that requires students to touch, smell, or taste.

Answered: 1 week ago

Question

★★★★★

Journal entries for the allowance method. Data related to sales on accounts of Health Company for its first three year of operations, 2006-2008 appear next: Heath Company estimates that 3% of sales...

Answered: 1 week ago

Question

★★★★★

QUESTION The following balances have been taken from the unadjusted trial balance of Burwood Electric Services as at 30 June 2016. Debit $ Credit $ 13,000 Rent Expense Office Supplies 3,690 Insurance...

Answered: 1 week ago

Question

★★★★★

Using the banker's algorithm: 1 . Available = ( 0 , 3 , 0 , 1 ) 2 . Available = ( 1 , 0 , 0 , 2 ) 3 . If a request from process P 1 arrives for ( 1 , 1 , 0 , 0 ) , can the request be granted...

Answered: 1 week ago

Question

★★★★★

A program in Python that outputs the common names of five of the world's smallest known bird species. Your output should include the common name and size of each species. You can find this...

Answered: 1 week ago

Question

★★★★★

Consider Peter Drucker's well-known statement that "Culture eats strategy for breakfast." Do you think that Drucker is right? If not, why not? Explain your reasoning. Please use references

Answered: 1 week ago

Question

★★★★★

1. A brief paragraph introducing Coca Cola company, its cyber environment and provide a high-level overview of Coca Cola's need for a cyber risk mitigation strategy. (Paragraph introducing Coca Cola...

Answered: 1 week ago

Question

★★★★★

If you are a small business and have machinery valued at $28,000, land valued at $52,000, $14,000 in cash and a 10 year loan debt of $75,000, what is owners equity?:

Answered: 1 week ago

Question

★★★★★

QUESTIONONE For anyone considering doing business in Uganda, think ROKO. ROKO ConstructionLimited was founded in 1969 and is today one of Uganda's leading Construction andCivilEngineeringGroups....

Answered: 1 week ago

Previous Question Next Question