The sale of IBM computers in France will be recorded as a: credit item on the...
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The sale of IBM computers in France will be recorded as a:
credit item on the current account.
debit item on the current account.
credit item on the capital account.
debit item on the capital account.
credit item on the official reserves account.
Homework Answers
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correct answer is option : credit item on the current account.
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The sale of IBM computers in France will be recorded as a:
credit item on the...
Assume that a country’s balance-of-payments accounts are recorded correctly. If there is no change in a country’s offici...
Assume that a country’s balance-of-payments accounts are recorded correctly. If there is no change in a country’s official reserves account, a surplus in the capital account must be: Multiple Choice None of the options. reflected in an appreciation of the country’s currency. reflected in a decrease in a country’s foreign indebtedness. offset by a surplus in the current account. offset by a deficit in the current account.
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A transaction that typically leads to the sale of foreign currency is recorded as a? Credit or debit??
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings...
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings and a credit to Cash. (b) debit to Cash and a credit to Retained Earnings. (c) debit to Cash and a credit to Common Shares. (d) debit to Common Shares and a credit to Cash. 21. Dividends in arrears on cumulative preferred shares (a) never have to be paid, even if common dividends are paid. (b) must be paid before common shareholders can receive...
Oct. 12: Sold computers on account for $9,200 to a customer, terms 1/15, n/45. The cost of the computers is $5,520. Beg...
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The original sale of the $50 par value common shares of Gray Company was recorded as follows: 256,500 Cash Common Stock 225,000 Paid-in Capital in Excess of Par 31,500 Transactions: (a) Bought 380 shares of common stock as treasury shares at $61. Sold 100 shares of treasury stock at $59. (b) (c) Sold 50 treasury shares at $67. Record the treasury stock transactions (given above) under the cost method. (Credit account titles are automatically indented when amount is entered. Do...
(b) The reversing entry for each item where appropriate. No. Account Titles and Explanation Debit Credit...
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Accounts bank inventory office equipment computers van Trendmill limitted debit Accounts £32,050.00 cash £15,000.00 sale £15,000.00...
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Question 14 I. The interest earned on the holding of US government bonds by foreigners: a....
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Explanations 10. An Australian currency speculator believes that the New Zealand dollar will appreciate relative to...
Explanations
10. An Australian currency speculator believes that the New Zealand dollar will appreciate relative to the Australian dollar. Which of the following transactions on Australia's balance of payments is most likely to result? a. A credit and debit on the capital account b. A credit and debit on the current account c. A credit on the capital account and a debit on the current account d. A credit on the current account and a debit on the capital account...
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...
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings and a credit to Cash. (b) debit to Cash and a credit to Retained Earnings. (c) debit to Cash and a credit to Common Shares. (d) debit to Common Shares and a credit to Cash. 21. Dividends in arrears on cumulative preferred shares (a) never have to be paid, even if common dividends are paid. (b) must be paid before common shareholders can receive...
Oct. 12: Sold computers on account for $9,200 to a customer, terms 1/15, n/45. The cost of the computers is $5,520. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and Explanation Debit Credit Oct. 12 Now journalize the expense related to the October 12 sale. Date Accounts and Explanation 6 More Info Debit Credit Oct. 12...
The original sale of the $50 par value common shares of Gray Company was recorded as follows: 256,500 Cash Common Stock 225,000 Paid-in Capital in Excess of Par 31,500 Transactions: (a) Bought 380 shares of common stock as treasury shares at $61. Sold 100 shares of treasury stock at $59. (b) (c) Sold 50 treasury shares at $67. Record the treasury stock transactions (given above) under the cost method. (Credit account titles are automatically indented when amount is entered. Do...
(b) The reversing entry for each item where appropriate. No. Account Titles and Explanation Debit Credit 1. When the accounts of Crane Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period. 1. The prepaid insurance account shows a debit of $5,088, representing the cost of a 2-year fire insurance policy dated August 1 of the current year. 2. On November 1, Rent Revenue was credited for $1,905, representing revenue...
Accounts bank inventory office equipment computers van Trendmill limitted debit Accounts £32,050.00 cash £15,000.00 sale £15,000.00 account payable £5,000.00 capital £20,000.00 van lease £1,500.00 rent payable £3,000.00 utulities payable £3,000.00 salary&wages payable £25,500.00 accrued liabilities £600.00 discount £2,400.00 £21,000.00 £2,940.00 £1,000.00 £100.00 £2,000.00 £500.00 £150,590.00 credit £9,100.00 £16,940.00 £6,000.00 £50,000.00 £16,000.00 £3,000.00 £3,000.00 £25,500.00 £21,000.00 £50.00 maintenance accrued rent accrued utilities accrued salary&wages interest (van) instalments (van) liability payable account recievable office cleaning office stationary Charity&donation staff entertaiment £150,590.00 depreciation...
Explanations
10. An Australian currency speculator believes that the New Zealand dollar will appreciate relative to the Australian dollar. Which of the following transactions on Australia's balance of payments is most likely to result? a. A credit and debit on the capital account b. A credit and debit on the current account c. A credit on the capital account and a debit on the current account d. A credit on the current account and a debit on the capital account...
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...
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