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Based on the preceding information, prepare all journal entries for Taste Bits Inc.
On December 1, 20X8, Hedge Company entered into a 60-day speculative forward contract
to sell
Date
Spot Rate
Forward Rate for Feb 1
December 1, 20X8
1 = $1.76
$1.78
February 1, 20X9
1 = $1.75
Based on the preceding information, prepare all journal entries for Hedge Company.
On June 1, 20X5, Secure Company speculates that the price of wheat will decrease and
sell20 wheat futures contracts at a price of Rp.145,000/sack. Each contract is for 3,000sack
of wheat and maturity date is August 31. The futures exchange requires payment of 8% of
notional amount as margin deposit. Following prices are given:
Date
August 31 Futures Price/Sack
June 1
Rp.145,000
June 30
Rp.149,000
July 31
Rp.151,000
August 31
Rp.148,000