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On March 1,20X2,McBride Ltd

question 19

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On March 1,20X2,McBride Ltd.issued a purchase order to Tao Heavy Machines (Singapore) Inc.to acquire a drilling machine for $400,000 SGD.On the same day,McBride entered into a forward contract to receive $400,000 SGD on July 31,20X2.The machine was delivered on June 1,20X2 and payment was made July 31,20X2.McBride has an April 30 year-end.The following information has been provided:
On March 1,20X2,McBride Ltd.issued a purchase order to Tao Heavy Machines (Singapore) Inc.to acquire a drilling machine for $400,000 SGD.On the same day,McBride entered into a forward contract to receive $400,000 SGD on July 31,20X2.The machine was delivered on June 1,20X2 and payment was made July 31,20X2.McBride has an April 30 year-end.The following information has been provided:   Assume that the transaction qualifies as a cash-flow hedge.What amount should be recognized as other comprehensive income at April 30,20X2? A) $ 320 B) $ 640 C) $4,640 D) $5,280
Assume that the transaction qualifies as a cash-flow hedge.What amount should be recognized as other comprehensive income at April 30,20X2?

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Definitions:

Aqueous Humor

is a clear fluid located in the front and between the lens and the cornea of the eye, helping to maintain intraocular pressure and provide nutrients to the eye tissues.

Anterior Cavity

A body cavity located at the front part of the body, which includes the thoracic and abdominopelvic cavities, housing major organs.

Fovea Centralis

A small depression in the retina of the eye where visual acuity is highest, owing to a high density of cones.

Peripheral Portions

The outer regions or edges of an area or structure, often contrasted with the central or core areas.

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