Business, 07.05.2020 12:58, ibahadurali786oz4gxs

On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 310,000 rubles in four months (on January 31, 2018) and receive $186,000 in U. S. dollars. Exchange rates for the ruble follow: Date Spot Rate Forward Rate (to January 31, 2018) October 1, 2017 $ 0.56 $ 0.60 December 31, 2017 0.59 0.62 January 31, 2018 0.61 N/A Sharp's incremental borrowing rate is 12 percent. The present value factor for one month at an annual interest rate of 12 percent (1 percent per month) is 0.9901. Sharp must close its books and prepare financial statements on December 31.

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On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sel...