Business, 30.03.2021 22:00, xandraeden32

Woolsey Corporation, a U. S. company, expects to sell goods to a British customer at a price of 250,000 pounds, with delivery and payment to be made on October 24. On July 24, Woolsey purchased a three-month put option for 250,000 British pounds and designated this option as a cash flow hedge of a forecasted foreign currency transaction expected to be completed in late October. The following exchange rates apply: Option Strike Price = $2.17
Option Cost : $4,000
July 24th Spot Rate : $2.17
October 24th Spot Rate :$2.13
October 24th Option Premium : $.04
What amount will Woolsey include as Adjustment to Net Income for the period ended October 31?
A. $6,000 positive.
B. $6,000 negative.
C. $10,000 positive.
D. $10,000 negative.
E. $14,000 positive.

Answers: 1

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Woolsey Corporation, a U. S. company, expects to sell goods to a British customer at a price of 250,...