Course hero On September 3, 2017, Robin Franchises a U.S. company, sold merchandise to a franchisee10/20/2023 ![]() ![]() On NovemberĪpple Company was incorporated in Delaware in 2012. Apple Company was incorporated in Delaware in 2012.The forward points on the forward contract are excluded inĪssessing hedge effectiveness and are amortized to net income usingĪ straight-line method on a monthly basis. ![]() Icebreaker enters into a forwardĬontract on December 1, 2020, to sell 28,000 dinars on March 1,Ģ021. 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. ![]()
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