Question: answer is my guess, please help On September 1, 20X1, Bauer Inc: has 10,000 ounces of silver, with an average cost of $12 per ounce,

answer is my guess, please help

On September 1, 20X1, Bauer Inc: has 10,000 ounces of silver, with an average cost of $12 per ounce, in inventory. The spot price for silver is $16 per ounce Bauer decides to retain the inventory until the beginning of January 202, hoping that the price increases to $17 per ounce rates and future prices for silver are as follows. What entry does Bauer prepare on December 31,201 to adjust the carrying value of the inventory of silver? DerivativeFutureContract15,000 Inventory-Silver 15,000 Loss on Hedge Activity 15,000 Derivative Future Contract 15,000 Gain on Hedge Activity 15,000 Inventory-Silver 15,000 Gain on Hedge Activity 10,000 Derivative Future Contract 10,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

TST102 Fundamentals of Test Evaluation Lesson 17 - Assignment Assignment 1: Developmental Test Planning You are designing a developmental test to verify that the SRAW safe-arm device (SAD) arms the...

On September 1, 20X1, Bauer Inc. has 10,000 ounces of silver, with an average cost of $12 per ounce, in inventory. The spot price for silver is $16 per ounce. Bauer decides to retain the inventory...

On September 1 , 2 0 X 1 , Bauer Inc. has 1 0 , 0 0 0 ounces of silver, with an average cost of $ 1 2 per ounce, in inventory. The spot price for silver is $ 1 6 per ounce. Bauer decides to retain...

how can I get all the answers for this document? i need to answer the document attached please Master Budget Modeling Project for MyArmor, Inc. - 2017 Planning Year Project is Activated Save your...

Can someone help me with this? I need it by tomorrow chapter 2 Issues in Accounting for Corporate Debt and Equity istockphoto Learning Objectives Be able to articulate the advantages and...

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

21. Assume that the spot S&P500 index is 1000.00 on March 31 and that the September S&P500 futures contract on that day is 1020.00. This futures contra will mature in 180 days. The 180 day riskless...

I have accounting homework that I need help with. Sales Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for...

Hello~ I need the step by step solution for Q ,11, 13 , 14, 17 , 18 1 Test No. Second Midterm Examination ACC3200 Fall 20xx Instructions: 1 You must write your name on this sheet as well as the...

A pump from the same family as Prob. 11.28 is built with D = 18 in and a BE power of 250 bhp for gasoline (not water). Using the scaling laws, estimate the resulting (a) Speed in rpm; (b) Flow rate...

There is considerable uncertainty about the extent of degradation on grazing lands. Suppose you were a range management scientist, and it was your job to evaluate degradation for the state of...

How do mutual funds provide returns to their shareholders? Income dividends. Capital gain distributions. Capital gains. All of these. None of these.

Calculate the change in entropy a pot of boiling water to which 104 J of energy is added. The waters temperature is 100.

An electron is in an n = 4 orbit. List the possible values if its quantum number. If the electron happens to be in an l = 3 state, list the possible value of its ml quantum number. List the possible...

An athlete knows from his knowledge of physics that, if he measures from the earth at a time interval on a moving spaceship, what he finds will be greater than what someone on the spaceship would be...

Explain in your own words the difference between a proper reference frame and other inertial reference frames in which the time between two event is measured.

You sit in a spaceship moving past the earth at 0.97c. Your arm held straight out in front of you seems you to be 28.0 in long. How long does it appear to an observer on the earth?

Question 4 1 pts Firms CANNOT create: segmentation strategies. targeting strategies. consumer segments. positioning strategies. consumer targets.

Is it important to evaluate a creative idea before it becomes an innovation?

Identity the types of problem team members you have encountered. Did the team leader effectively handle these problem members? How could the leader have done a better job of managing these members?

Team development stages state that most people coming to a new group are enthusiastic, but that with time they lose some of their morale. What types of things happen in most groups to cause this...