Prepare journal entries to record the inception of contract

Assignment Help Accounting Basics
Reference no: EM131805289

Question - Treetoo Limited wishes to buy 10,000 shares of YCo, a publicly-traded company. Treetoo enters into a contract, through a broker, to buy the shares in 40 days' time, at a price of $3 per share, the current fair value. The broker requires a 10% margin to be maintained at all times. After 10 days, at the fiscal year-end, the price of the YCo shares is $4 per share, and is $4.50 per share at the end of 40 days. At that time, the shares are purchased and the contract is closed out.

Required:

Is this a forward contract or a futures contract? Explain.

What risk is the company hedging?

Prepare journal entries to record the inception of the contract, the change in its fair value at year-end and the additional margin payment, and its maturity.

Reference no: EM131805289

Questions Cloud

Compare attitudes and stereotypes : Compare attitudes, stereotypes, prejudice, and discrimination.Explore prejudice attitudes in gender, age, race, sexuality, disability, or weight.
Find the probability of success : You feel that the schedule is reasonable provided the new manager can be hired in time, but the situation is risky regardless.
Mini-case on ryanair limited : Mini-case On Ryanair Limited - IS RYANAIR'S WEBSITE ITS STRATEGIC MARKETING TOOL?
Business recall in the automotive industry : Please Research a current event of a business recall in the automotive industry and summarize how the event impacts the business.
Prepare journal entries to record the inception of contract : Prepare journal entries to record the inception of the contract, the change in its fair value at year-end and the additional margin payment, and its maturity
Find the probability that defective part will be identified : There are 5% defective parts manufactured by your production line, and you would like to find these before they are shipped.
Mission of patagonia differ from most other companies : How does the mission of Patagonia differ from most other companies?
Review the essay and provide thoughts on it : In one to two paragraphs please respond to the below essay and give your thoughts on it's content*
Calculate final balance in each shareholders equity account : Zu Corp. has the following items in shareholders' equity at 31 December 20X8: Calculate the final balance in each shareholders' equity account

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd