User Account

All Pages

Prepare all journal entries good-buy makes on december

Assignment Help Accounting Basics
Reference no: EM132035948

Question - On December 1, 2015 the Good-Buy Company (American) sold inventory to the Adios Company (Mexican), with payment of 12,000 pesos to be received March 1, 2016. The Good-Buy Company enters into a forward contract on December 1, 2015 to sell the 12,000 pesos. Information on the exchange rates of the dollar with the peso are as follows: Date Spot rate forward rateDec. 1 2015 $2.30 $2.375Dec. 31, 2015 $2.40 $2.50Mar. 1, 2016 $2.55 $2.89 Good-Buy's borrowing rate is 12% (1% per month) Good-Buy has determined that this is a cash flow hedge and recognizes any premium or discounts under the straight line method.

Required: Prepare all journal entries good-buy makes on Dec. 1, 2015 Dec. 31, 2015 and March 1, 2016.

Reference no: EM132035948

Questions Cloud

Making economic choices : Consider a time when you needed to make a decision between your needs and your wants. This could be a personal economic decision.
What do you think about the fact that most business law : What do you think about the fact that most business law text books include a chapter on bankruptcy?
How could you relate this to protectionism : "One of the benefits of Global Marketing is how companies gained access to the toughest customers.
Explain what controls climate : Explain what controls climate and basically how are they determined and classified. The response must be typed, single spaced.
Prepare all journal entries good-buy makes on december : Required: Prepare all journal entries good-buy makes on Dec. 1, 2015 Dec. 31, 2015 and March 1, 2016
Personal concerns that you would ever stop using social : Consider whether you have sufficient personal concerns that you would ever stop using social media.
Why do you find the topic interesting : Write a 350- to 700-word response summarizing the topic. Why do you find the topic interesting? What new things did you learn about the topic?
Permanently scarred and he loses re-election : His reputation is permanently scarred and he loses re-election. Is Finley guilty of defamation?
Creating web page exercises - multimedia web development : CSIS 1280 Multimedia Web Development - create the html page and link it to the provided styles.css file. You then need to modify your css file

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd