Prepare the journal entries to record the sale and all the adjustments required at November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and forward contract accounts.

Question

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Answer 1

Question

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

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Answer 2

Question

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

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Answer 3

Question

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

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Answer 4

Question

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

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Answer 5

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

Answer 6

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

Answer 7

Chapter 7, Problem 35E

a.

To determine

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

Answer 8

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

Answer 9

b.

To determine

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

Answer 10

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

Answer 11

c.

To determine

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 7 - Prob. 1Q Ch. 7 - Prob. 2Q Ch. 7 - Prob. 3Q Ch. 7 - Prob. 4Q Ch. 7 - Prob. 5Q Ch. 7 - Prob. 6Q Ch. 7 - Prob. 7Q Ch. 7 - Prob. 8Q Ch. 7 - Prob. 9Q Ch. 7 - Prob. 10Q

Prepare the journal entries to record the sale and all the adjustments required at November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and forward contract accounts.

Prepare the journal entries to record the sale and all the adjustments required at November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and forward contract accounts.

Compare with the forward rate at the beginning of the forward contract the net cash received for both settlement of receivables and forward-contract derivatives.

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.

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Chapter 7 Solutions

Prepare the journal entries to record the sale and all the adjustments required at

November 15, 2018, December 31, 2018 and February 15, 2019 for the receivable and

forward contract accounts.

Compare with the forward rate at the beginning of the forward contract the net cash

received for both settlement of receivables and forward-contract derivatives.

Evaluate the amount of sales recognized in the quarter ending Dec 31, 2018; the quarter

ending Mar 31, 2019 and explain these amounts and also evaluate the total amount of

sales recognized across the quarters ending Dec 31, 2018, and Mar 31, 2019.