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AKL (Asistensi) 6 Ressy Aldrian 0119101143
AKL (Asistensi) 6 Ressy Aldrian 0119101143
NPM : 0119101143
Sales Transaction
Katy Foods sells merchandise to Perry industries Ltd. For $ 53,000, or ₤ 20.000 when the exchange
rate is $ 2.65, and receives payment when the exchange rate is $ 2.64
Purchase Transaction
Katy Foods purchase merchandise from Petty industries Ltd. For $ 26,500 or ₤ 10.000 when the
exchange rate is $ 2.65 and pays the account when the exchange rate is $ 2.67
Instruction :
Futures Contract
Utility anticipated purchasing oil for sale to its customers next February. On December 1 utility enters
a futures contract to acquire 6,000 gallons of oil at $ 1.4007 per gallon for delivery on Jan 31. A
margin if $ 20 is to be paid up front. On Dec 31, the price for delivery of oil on Jan 21 is $ 1,4050. On
Jan 31, the spot rate for current delivery is $ 1,3995. Utility settles the contract, accepting delivery of
6,000 gallons of oil. In February, utility sells all the oil to its customers for $10,400 and reclassifies its
its OCI from hedge as cost of sales.
Required :
JAWABAN SOAL
Sales Transaction
a) US Dollars
Jurnal saat Penjualan
Dr. Account Receivable $53.000
Cr. Merchandise Inventory $53.000
Jurnal saat Pelunasan
Dr. Cash $53.000
Cr. Account Receivable $53.000
b) Pounds
Jurnal saat Penjualan
Dr. Account Receivable $53.000
Cr. Merchandise Inventory $53.000
Jurnal saat Pelunasan
Dr. Cash $52.800 (£ 20.000 X $2,64)
Dr. Exchange Loss $ 200
Cr. Account Receivable $53.000
Purchase Transaction
a) US Dollars
Jurnal saat Pembelian
Dr. Purchase $26.500
Cr. Account Payable $26.500
Jurnal saat Pelunasan
Dr. Account Payable $26.500
Cr. Cash $26.500
b) Pounds
Jurnal saat Pembelian
Dr. Purchase $26.500
Cr. Account Payable $26.500
Jurnal saat Pelunasan
Dr. Account Payable $26.500
Dr. Exchange Loss $ 200
Cr. Cash $26.700 (₤10.000 x $2,67)
Future Contracts