Nurul Aryani - AKL1 - QUIZ 5 [PDF]

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Nama : Nurul Aryani NIM : 43218120075 Akuntansi Keuangan Lanjutan 1 QUIZ 5 Soal 1 On April 1, 2011, Bay delivers merchandise to ram for 200,000 pesos when the spot rate for pesos is 6.0496 pesos. The receivable from Ram is due May 31. Also on April 1, Bay hedges its foreign currency asset and enters into a 60day forward contract to sell 200,000 pesos at a forward rate of 6.019 pesos. The spot rate on May 31 was 5.992 pesos. REQUIRED : 1.



Prepare journal entries to record the receivable from the sales transaction and the forward contract on April



1 2.



Prepare journal entries to record collection of the receivable and settlement of the forward contract on May



31



Answer : Apr 1



Account Receivable



33,060 Sales



33,060



*Notes 200000/6.0496 = 33,060 * Mencatat Penjualan Contract Receivable



33,228 Contract Payable



33,228



*Notes 200000/6.019 = 33,228 *Melakukan Kontrak Forward 60 hari 33.228



May 31



Cash



33,378 Gain On Exchange



318



Account Receivable



33,060



*Notes *mencatat penagihan piutang



Contract Payable



33,228



Loss On Exchange



150 Cash



33,378



*Notes *Mencatat Pengiriman 200,000 peso dari ram



Cash



33,228 Contract Receivable



*Notes *Mencatat Penerimaan kas dari broker



33,228