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kicyunya [14]
3 years ago
7

Explain how each of the following transactions generates two entries—a credit and a debit—in the American balance of payments ac

counts, and describe how each entry would be classified: a. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. b. An American buys a share of German stock, paying the seller with a check on an American bank. c. The French government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. d. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check. e. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. f. A U.S.-owned factory in Britain uses local earnings to buy additional machinery.
Business
1 answer:
ANEK [815]3 years ago
8 0

Answer:

Explanation:

A. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. - Credit Swiss bank and Debit Capital account as purchase of German Stock

B. An American buys a share of German stock, paying the seller with a check on an American bank. Credit American bank and Debit Capital account as purchase of German Stock

C. The French government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. Credit American bank and Debit Capital account as foreign currency exchange

D. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check. Credit Traveler's check (Current Account) and Debit Currency transfer (payment for service)

E. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. it has no financial implication as its a donation.

F. A U.S.-owned factory in Britain uses local earnings to buy additional machinery. No entry as the transaction has nothing to do with country's asset.

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Which one of the following is not a function of​ money? A. Medium of exchange. B. Store of value. C. Open market operation. D. U
Lisa [10]

Answer:

The correct answer is C

Explanation:

Money is the term which is described as something which serves as exchange medium, store of value and a unit of accounting. It is a exchange medium in the terms, that the person will agree to receive it by making a transaction.

In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.

Therefore, the one which is not the function of money is that it has the operations in the open market.

3 0
2 years ago
Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $350 and has a unit cont
grandymaker [24]

Answer:

Break-even point in composite units = 811 units

Explanation:

Number of modal;

5 Youth models

9 Adult models

6 Recreational models

Annual fixed costs total = $6,550,000

Find:

Break-even point in composite units

Computation:

Mixed contribution margin = 5[130] + 9[475] + 6[525]

Mixed contribution margin = 650 + 4275 + 3150

Mixed contribution margin = $8075

Break-even point in composite units = Annual fixed costs total / Mixed contribution margin

Break-even point in composite units = 6,550,000 / 8075

Break-even point in composite units = 811 units

3 0
2 years ago
The cashier for Bell Buoy rang up sales totaling $5,104, but had $5,120 to deposit, which journal entry would be recorded? Multi
alexandr402 [8]

Answer:

A debit to Cash for $5,120, a credit to Cash Overage for $16, and a credit to Sales Revenue for $5,104.

Explanation:

In the current situation, the cash received is in excess of revenue recorded, thus, there will be cash overage.

As per books cash shall be $5,104 but since actual cash is $5,120 there is cash overage of $16

Therefore, for this, actual cash received shall be debited = $1,520

Cash overage shall be credited for $16

And accordingly sales of $5,104 shall be recorded as a credit.

Thus, correct option is: Entry A

3 0
3 years ago
The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below:
Yanka [14]

Answer:

Explanation:

The preparation of the report form balance sheet as of August 31, 2019 is presented below:

                                      Sentinel Travel Service

                                 Report form balance sheet

                              For the year ended August 31, 2019

Assets

Cash                                             $143,125

Account receivable                     $54,240

Supplies                                       $9,300      

Land                                             $248,000

Total assets                                 $454,665

Liabilities

Account payable                        $19,370

Owner equity

Ending capital                            $435,295

Total liabilities

And owners equity                    $454,665

The net income would be

= Fees earned - Office expense - Miscellaneous expense - Wages expense

= $774,800 - $178,205- $15,495 - $371,905

= $209,195

And, the ending capital would be

= Opening capital - withdrawn amount + net income - additional cpiatl

= $209,000 - $29,400 + $209,195 + $46,500

= $435,295

7 0
3 years ago
Which payment method typically charges the highest interest rates? EverFi?
Yanka [14]
A is the correct answer.
5 0
3 years ago
Read 2 more answers
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