Nama : Nurul Aryani

NIM : 43218120075
Akuntansi Keuangan Lanjutan 1

QUIZ 5
Soal 1

On April 1, 2011, Bay delivers merchandise to ram for 200,000 pesos when the spot rate for pesos is 6.0496 pesos.
The receivable from Ram is due May 31. Also on April 1, Bay hedges its foreign currency asset and enters into a 60-
day forward contract to sell 200,000 pesos at a forward rate of 6.019 pesos. The spot rate on May 31 was 5.992
pesos.

REQUIRED :

1. Prepare journal entries to record the receivable from the sales transaction and the forward contract on April
1
2. Prepare journal entries to record collection of the receivable and settlement of the forward contract on May
31

Answer :

Apr 1 Account Receivable 33,060

Sales 33,060

*Notes
200000/6.0496 = 33,060
* Mencatat Penjualan

Contract Receivable 33,228

Contract Payable 33,228

*Notes
200000/6.019 = 33,228
*Melakukan Kontrak Forward 60 hari
33.228

May 31 Cash 33,378

Gain On Exchange 318
Account Receivable 33,060

*Notes
*mencatat penagihan piutang

Contract Payable 33,228

Loss On Exchange 150
Cash 33,378

*Notes
*Mencatat Pengiriman 200,000 peso dari ram

Cash 33,228
Contract Receivable 33,228

*Notes
*Mencatat Penerimaan kas dari broker