A Japanese tourist rents a hotel room in London. The impact on BOP will be debit...
A Japanese tourist rents a hotel room in London. The impact on BOP will be debit for Japan current account (-) and a credit for UK current account (+). True or False?
Homework Answers
Since here service is being paid to the foreigner. thus, it is amount to selling or exporting services. Thus, it would be credited in the account of the UK while the Japanese are taking services or it amounts to import. so Japanese account will be debit.
Thus: This is true statement.
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A Japanese tourist rents a hotel room in London. The impact on
BOP will be debit...
QUESTION 1 FALSE. QUESTION 2 Currency inflows (payments by residents of any other country to U.S ...
QUESTION 1 FALSE. QUESTION 2 Currency inflows (payments by residents of any other country to U.S residents) are recorded as credis in the US BOP TRUE O FALSE. QUESTION 3 The sale of computers to Argentina is a credit in the U.S current account O TRUE FALSE QUESTION 4 The purchase of Widgets from China is a debit in the U S current account. TRUE FAI SF 0 mit to sque and submit. Click Save All Ansuers to save all...
credit + , debit- Question 16. Suppose that the following transactions take place on the Canibalian...
credit + , debit-
Question 16. Suppose that the following transactions take place on the Canibalian balance of payments. Analyze the effects on the corresponding part of the current account, the capital account, the financial account and the official settlements account. a) Goeing, a Canibalian aerospace company, sells $3 billion of its brand new and super-safe 121 max 888 airplanes to the People's Republic of China, which pays with proceeds from a loan from international banks. b) Pikko, a Japanese...
Explain how each of the following transactions generates a credit and a debit in the American...
Explain how each of the following transactions generates a credit and a debit in the American balance of payments accounts and described (BRIEFLY) how each entry would be classified: An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. The Korean government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy Korean currency from its citizens A tourist from Detroit...
capital account-current account financial account -japanese auto -chinese government -honduran worker -french company -u.k bonds -italian...
capital account-current
account financial account
-japanese auto
-chinese government
-honduran worker
-french company
-u.k bonds
-italian contrator
The Balance-of-Payments (BOP) Explained Intemational trade invalves the sale other countries (imports) goods and services to residents in other countries (exports) and the purchasse of goods and services from residents Country's balance-of- payments accounts keep track of the payments to, and receipts from, other countries for a particular time period. These include payments to forelgners for imports of goods and services, and receipts...
B) FALSE dents) are 22) Currency inflows (payments by residents of any other country to U.S. resi recorded as credits in the U.S. BOP A) TRUE B) FALSE. 23) If China acquires $100 billion of U.S....
B) FALSE dents) are 22) Currency inflows (payments by residents of any other country to U.S. resi recorded as credits in the U.S. BOP A) TRUE B) FALSE. 23) If China acquires $100 billion of U.S. government bonds, this is a credit in the U.S. current account. A) TRUE B) FALSE 24) Today, a U.S. importer places an order for machine tools that will arrive in Houston in 60 days, when he must pay 4,000,000 to the German exporter. Assume...
MOTO HOTEL Trial Balance May 31, 2017 Debit Credit Cash $ 2,333 Supplies 2,600 Prepaid Insurance...
MOTO HOTEL
Trial Balance
May 31, 2017
Debit
Credit
Cash
$ 2,333
Supplies
2,600
Prepaid Insurance
1,800
Land
14,833
Buildings
67,600
Equipment
16,800
Accounts Payable
$ 4,533
Unearned Rent Revenue
3,300
Mortgage Payable
33,600
Common Stock
59,833
Rent Revenue
9,000
Salaries and Wages Expense
3,000
Utilities Expense
800
Advertising Expense
500
$110,266
$110,266
Other data:
1.
Insurance expires at the rate of $450 per month.
2.
A count of supplies shows $1,070 of unused supplies on May
31.
3.
(a)...
15) The entry to record the payment of an interim dividend includes a: A) Debit to...
15) The entry to record the payment of an interim dividend includes a: A) Debit to Interim dividend payable C) Credit to Bank B) Credit to Interim dividend payable D) both A and C 16) Recoverable amount is defined as: A) the higher of an asset's fair value less costs to sell and its value in use B) the lower of an asset's carrying amount and its book value C) the higher of an asset's carrying amount and its book...
1) 1) Goods in transit are automatically included in inventory regardless of whether title has passed...
1) 1) Goods in transit are automatically included in inventory regardless of whether title has passed to the buyer. A) True B) False 2) 2) An advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement. A) True B) False 3) 3) Errors in the period-end inventory balance only affect the current period's records and financial statements. A) True...
December 31, 2010 Acct No. Account Title Debit Credit 29, 210 100 116, 000 43,000 2,500...
December 31, 2010 Acct No. Account Title Debit Credit 29, 210 100 116, 000 43,000 2,500 89,000 7,500 394, 000 60,000 35,000 16,000 4,500 500 4,000 5,000 40,000 1001 Cash 1002 Cash - Payroll Account 1003 Cash - Money Market 1005 Receivables 1006 Allowance for doubtful accounts 1010 Merchandise inventories Prepaid expenses and other current 1015 assets 1110 Property and equipment 1111 Accumulated depreciation 2001 Accounts payable 2010 Accrued payroll and employee benefits 2012 Payroll taxes payable 2015 Interest payable...
Adjusted 3D Family Fireworks Trial Balance January 31, 2021 Account Title Credit $ Debit 89,400 14,600...
Adjusted 3D Family Fireworks Trial Balance January 31, 2021 Account Title Credit $ Debit 89,400 14,600 1,630 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Supplies 30,000 125 750 78,000 Land Accounts Payable Salaries Payable Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Salaries Expense Utilities Expense Bad Debt Expense Total 3,300 34,500 106,000 33,400 119,500 125 2,750 66,900 14,700 1,230 298,455 $ 298,455 On January 1, 2021, the general ledger of 3D Family Fireworks...
QUESTION 1 FALSE. QUESTION 2 Currency inflows (payments by residents of any other country to U.S residents) are recorded as credis in the US BOP TRUE O FALSE. QUESTION 3 The sale of computers to Argentina is a credit in the U.S current account O TRUE FALSE QUESTION 4 The purchase of Widgets from China is a debit in the U S current account. TRUE FAI SF 0 mit to sque and submit. Click Save All Ansuers to save all...
credit + , debit-
Question 16. Suppose that the following transactions take place on the Canibalian balance of payments. Analyze the effects on the corresponding part of the current account, the capital account, the financial account and the official settlements account. a) Goeing, a Canibalian aerospace company, sells $3 billion of its brand new and super-safe 121 max 888 airplanes to the People's Republic of China, which pays with proceeds from a loan from international banks. b) Pikko, a Japanese...
capital account-current
account financial account
-japanese auto
-chinese government
-honduran worker
-french company
-u.k bonds
-italian contrator
The Balance-of-Payments (BOP) Explained Intemational trade invalves the sale other countries (imports) goods and services to residents in other countries (exports) and the purchasse of goods and services from residents Country's balance-of- payments accounts keep track of the payments to, and receipts from, other countries for a particular time period. These include payments to forelgners for imports of goods and services, and receipts...
B) FALSE dents) are 22) Currency inflows (payments by residents of any other country to U.S. resi recorded as credits in the U.S. BOP A) TRUE B) FALSE. 23) If China acquires $100 billion of U.S. government bonds, this is a credit in the U.S. current account. A) TRUE B) FALSE 24) Today, a U.S. importer places an order for machine tools that will arrive in Houston in 60 days, when he must pay 4,000,000 to the German exporter. Assume...
MOTO HOTEL
Trial Balance
May 31, 2017
Debit
Credit
Cash
$ 2,333
Supplies
2,600
Prepaid Insurance
1,800
Land
14,833
Buildings
67,600
Equipment
16,800
Accounts Payable
$ 4,533
Unearned Rent Revenue
3,300
Mortgage Payable
33,600
Common Stock
59,833
Rent Revenue
9,000
Salaries and Wages Expense
3,000
Utilities Expense
800
Advertising Expense
500
$110,266
$110,266
Other data:
1.
Insurance expires at the rate of $450 per month.
2.
A count of supplies shows $1,070 of unused supplies on May
31.
3.
(a)...
15) The entry to record the payment of an interim dividend includes a: A) Debit to Interim dividend payable C) Credit to Bank B) Credit to Interim dividend payable D) both A and C 16) Recoverable amount is defined as: A) the higher of an asset's fair value less costs to sell and its value in use B) the lower of an asset's carrying amount and its book value C) the higher of an asset's carrying amount and its book...
1) 1) Goods in transit are automatically included in inventory regardless of whether title has passed to the buyer. A) True B) False 2) 2) An advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement. A) True B) False 3) 3) Errors in the period-end inventory balance only affect the current period's records and financial statements. A) True...
December 31, 2010 Acct No. Account Title Debit Credit 29, 210 100 116, 000 43,000 2,500 89,000 7,500 394, 000 60,000 35,000 16,000 4,500 500 4,000 5,000 40,000 1001 Cash 1002 Cash - Payroll Account 1003 Cash - Money Market 1005 Receivables 1006 Allowance for doubtful accounts 1010 Merchandise inventories Prepaid expenses and other current 1015 assets 1110 Property and equipment 1111 Accumulated depreciation 2001 Accounts payable 2010 Accrued payroll and employee benefits 2012 Payroll taxes payable 2015 Interest payable...
Adjusted 3D Family Fireworks Trial Balance January 31, 2021 Account Title Credit $ Debit 89,400 14,600 1,630 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Supplies 30,000 125 750 78,000 Land Accounts Payable Salaries Payable Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Salaries Expense Utilities Expense Bad Debt Expense Total 3,300 34,500 106,000 33,400 119,500 125 2,750 66,900 14,700 1,230 298,455 $ 298,455 On January 1, 2021, the general ledger of 3D Family Fireworks...
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