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What amount of loss should the company report

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Reference no: EM133190045

Question - The following data applies to andi Company's purchase of 60,000 Belgium francs under a forward contract dated

November 30, 2021, for delivery on March 1, 2022:

 

11/30/2021

12/31/2021

03/01/2022

Spot rates

55.75

53.90

54.50

30-day forward rate

51.30

56.15

53.20

60-day forward rate

57.65

52.30

55.75

90-day forward rate

54.25

55.45

52.10

andi Company entered into the forward contract to speculate in the foreign currency. In its Income Statement for the year ended December 31, 2021, what amount of loss should the company report from this forward contract?

Reference no: EM133190045

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