Business, 22.07.2019 21:40 hmu323

On november 1, year 2, kir co. signed a contract to purchase 10,000 british pounds on february 2, year 3. the relevant exchange rates are as follows: spot rate forward rate november 1, year 2 $1.98 $2.05 december 31, year 2 2.00 2.06 kir accounts for the forward contract as a speculative transaction. what amount of gain, if any, should kir report from this forward contract in its income statement for the year ended december 31, year 2?

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On november 1, year 2, kir co. signed a contract to purchase 10,000 british pounds on february 2, ye...

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