Course hero On September 3, 2017, Robin Franchises a U.S. company, sold merchandise to a franchisee12/6/2023 ![]() Icebreaker Company (a U.S.-based company) sells parts to aįoreign customer on December 1, 2020, with payment of 28,000 dinars Icebreaker Company (a U.S.-based company) sells parts to aįoreign customer on December 1, 2020, with.On December 1, 2020, Icebreaker enters into a forward contract to purchase 27,000 dinars on March 1, 2021.Relevant exchange rates for the dinar on various dates are as follows: DateSpot RateForward Rate(to March 1, 2021)December 1, 2020$4.50$4.575December. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. Icebreaker Company (a U.S.-based company) purchases materials from a foreign supplier on December 1, 2020, with payment of 27,000 dinars to be made on March 1, 2021. Icebreaker Company (a U.S.-based company) purchases materials from a foreign supplier on December 1, 2020.The merchandise was delivered as scheduled. To hedge its exposure toĮxchange rate changes, on December 10, 2020, Robin entered aįorward contract for delivery of £10,000,000 to the broker on Marchġ5, 2021. The price of the merchandise is £10,000,000, company, receivedĪ purchase order from a U.K. On December 10, 2020, Robin Franchises, a U.S. On December 10, 2020, Robin Franchises, a U.S.To hedge its exposure to exchange rate changes, on December 10,Ģ020, Robin entered a forward contract for delivery of £10,000,000 ![]() customer forĭelivery of merchandise on January 15, 2021. Hedged Sale Commitment and Exposed Asset Position, withĪdjusting Entries On December 10, 2020, Robin Franchises, a U.S.Ĭompany, received a purchase order from a U.K. Hedged Sale Commitment and Exposed Asset Position, withĪdjusting Entries On December 10, 2020, Robin Franchises.
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