Problem 7-32 - Inventory 40000 Accounts Payable 40000...

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Problem 7 - 32 a) 12/1/2011 Inventory 40000 Accounts Payable 40000 12/31/2011 Accounts Payable 2000 Exchange Loss 2000 Gain in Forward Contract 2000 AOCI 2000 AOCI 2450.75 Forward Contract 2450.75 Exchange Loss 500 AOCI 500 3/1/2012 Accounts Payable 3000 Exchange Loss 3000 Gain on Forward Contract 3000 AOCI 3000 AOCI 1049.25 Forward Contract 1049.25 AOCI 1000 Discount Expense 1000 b) 12/1/2011
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Unformatted text preview: Inventory 40000 Accounts Payable 40000 12/31/2011 Accounts Payable 2000 Exchange Loss 2000 Forward Contract 1049.25 Exchange Gain 1049.25 3/1/2012 Accounts Payable 3000 Exchange Loss 3000 Forward Contract 1049.25 Exchange Gain 1049.25 Accounts Payable 45000 Foreign Currency 45000 Foreign Currency 45000 Cash 41500 Forward Contract 3500...
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