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# E12-12

## 1. 50,000,000 x \$.0269 = \$1,345,000

2. 50,000,000 x \$.0291 = \$1,455,000
3. 50,000,000 x (\$.0269 -\$0239) = 150,000 Premium
4. Valuation - 11/15/2014 50,000,000 x\$.0239 = \$1,195,000
12/31/2014 50,000,000 x\$.0224 = 1,120,000
Transacrion gain - 2014 \$75,000

## Valuation - 12/31/2014 \$1,120,000

1/15/2015 50,000,000 x\$.0291 = 1,455,000
Transacrion loss - 2015 \$355,000

## 5. 2014 - Transaction loss \$75,000

50,000,000 (\$.0269) = \$1,345,000
50,000,000 (\$.0254) = \$1,270,000
Transaction loss \$75,000

## 2015 - Transaction gain \$185,000

50,000,000 (\$.0254) = \$1,270,000
50,000,000 (\$.0291) = \$1,455,000
Transaction gain \$185,000

E12-1
Apr. 3 Purchases 11.520
Account Payable (1,600,000 x \$.0072)
5 Accounts Receivable 2.800
Sales
9 Accounts Receivable 16.800
Sales
11 Purchases 1,009,615
Accounts Payable (801,282 x \$ 1,26)
16 Accounts Payable (1,000,000 x \$.0072) 7.200
Transaction gain
Cash (1,000,000 x \$ .0067)
18 Accounts Payable -
Transaction Loss 1,025,641
Cash (801,282 x \$1,28)
22 Cash 16.800
Accounts Receivable
30 Accounts Payable (600,000 x \$.0072) 4.320
Transaction Loss 360
Cash (600,000 x \$.0078)

P12-12
Part A
Oct 1 Option to buy FC 4.000
Cash

## Nov 15 Option to buy FC 14.000

Foreign Exchange Gain
To adjust the option to its intrinsic value of \$18,000
[300,000 x (\$1.24 - \$1.30)] or \$18,000 - \$4,000 = \$14,000

Firm Commitment

## Investment in FC (300,000 x \$1.30) 390.000

Cash (300,000 x \$1.24)
Option to buy FC ( Intrinsic value)

Equipment 376.000
Firm Commitment 14.000
Investment in FC (300,000 x \$1.30)

Part B
Equipment (300,000 x \$1.30) 390.000
Cash

123123123
11.520

2.800

16.800

1,009,615

500
6.700

1,025,641

16.800

4.680
4.000

14.000

14.000

372.000
18.000

390.000

390.000

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