Need help with my career planning

Explain where in the U.S. balance of payments an entry would be recorded for each of the following:

aleksandrvk [35]

Answer:

a. This a capital inflow and it will be recorded in the capital account in the BOP in the BOP.

b. This is an imports of merchandise and it will be recorded under current account in the BOP.

c. This is also an import of merchandise and it will be recorded under current in the BOP.

d. This is an exports of merchandise and it will be recorded under current in the BOP.

e. This an outflow of capital and it will be recorded under capital accounts in the BOP.

f. This is a purchase or import of service and it will be recorded under current account in BOP.

g. This is a sale or export of service and it will be recorded under current account in the BOP.

Explanation:

Balance of Payment (BOP) refers to the statement in which every monetary transactions made between residents of a country and the rest of the world during a specific period are recorded.

Balance of payments records the inflows and outflows of capital which monitors under capital account, imports and exports of merchandise and service which are monitor under current account, and financial transactions.

Therefore, we have:

a. A Hong Kong financier buys some U.S. corporate stock.

This a capital inflow and it will be recorded in the capital account in the BOP in the BOP.

b. A U.S. tourist in Paris buys some perfume to take home.

This is an imports of merchandise and it will be recorded under current account in the BOP.

c. A Japanese company sells machinery to a pineapple company in Hawaii.

This is also an import of merchandise and it will be recorded under current in the BOP.

d. U.S. farmers make a gift of food to starving children in Ethiopia

This is an exports of merchandise and it will be recorded under current in the BOP.

e. The U.S. Treasury sells a bond to a Saudi Arabian prince.

This an outflow of capital and it will be recorded under capital accounts in the BOP.

f. A U.S. tourist flies to France on Air France.

This is a purchase or import of service and it will be recorded under current account in BOP.

g. A U.S. company sells insurance to a foreign firm.

This is a sale or export of service and it will be recorded under current account in the BOP.

3 0

3 years ago

Ottawa university sold 15,000 season football tickets at $80 each for its six-game home schedule. what entry should be made when

RUDIKE [14]

<span>The total revenue they earned from selling the football tickets is $1,200,000. As a result, they should debit cash for $1,200,000 and credit for unearned revenue for the same amount.</span>

4 0

3 years ago

Frank lives in an area that experiences frequent thunderstorms. What precautionary measures should he adopt?

Alisiya [41]

Answer:

There are different precautionary measures Frank can adopt. They are:

Explanation:

1. Frank should have outdoor furniture made of concrete instead of metal.

A strike of thunder on a metal surface will propel an electric shock.

2. Frank should pay good or regular attention to the weather forecasts.

He should have a handy device such as a small radio, which will keep him abreast of important happenings in the area.

3. Frank should take cover once a stroke of lightning appears in the sky.

The field of Physics lets us to know that light travels faster than sound and that the moment lightning appears in the sky, expect thunder roaring about 8 seconds after.

4. Frank should get used to or always wear covered shoes, to protect him from the electric charge that is created between a thunderstorm and a wet ground. Gloves could also do, for the hands.

5. Frank should structure his movements and road trips such that he accounts for some time that'll be used to wait for thunderstorms to pass; since it's unsafe to drive while the storms are roaring.

This will help him be on time to events and meetings.

6. Frank should avoid leaning on walls which have metal wires or bars across them, especially when lightning appears.

7. Frank should avoid anything wet, during a thunderstorm. This precaution should be taken even while indoors.

8. In the event that frank gets caught outdoors or in the open when a thunderstorm occurs, he should stoop and let only his feet have contact with the ground.

3 0

3 years ago

1. Purchased computers for $20,000 from Data Equipment on account. Select an effect 2. Paid $3,000 cash for May rent on storage

nata0808 [166]

Answer:

The question is not complete.

Here is the complete question:

Keystone Computer Timeshare Company entered into the following transactions during May 2017.

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

1. Purchased computers for $20,000 from Data Equipment on account. Select an effect

2. Paid $3,000 cash for May rent on storage space. Select an effect

3. Received $15,000 cash from customers for contracts billed in April. Select an effect

4. Performed computer services for Ryan Construction Company for $2,700 cash. Select an effect

5. Paid Midland Power Co. $11,000 cash for energy usage in May. Select an effect

6. Stockholders invested an additional $32,000 in the business. Select an effect

7. Paid Data Equipment for the computers purchased in (1) above.

Select an effect

8. Incurred advertising expense for May of $840 on account.

Here is the answer:

Transaction Effect on asset, liabilities and equity

1 Increase in asset(computer account) by $20,000

and increase in liabilities (account payable) by

$20,000

2 Decrease in asset(cash account) by $3,000 and

decrease in equity (rent expense account) by

$3,000

3. Increase in asset (cash account) by $15,000 and decrease in

asset (account receivable) by $15,000. Net effect is zero.

4. Increase in asset (cash account) by $2,700 and increase in

equity (service revenue account) by $2,700

5. Decrease in asset (cash account) by $11,000 and decrease in

equity (Energy expense account) by $11,000

6. Increase in asset (cash account) by $32,000 and increase in

equity (common stock account) by $32,000

7. Decrease in asset (cash account) by $20,000 and decrease in

liabilities (account payable) by $20,000

8. Increase in liabilities (accrued advertising expense) by $840

decrease in equity (advertising expense account) by $840

Explanation:

Assets are economic resources of the firm in which future economic benefits are expected to flow to the entity. Liabilities are the entity`s financial obligation to those who are not the owners of the business. Equity is the residual value after deducting am entity`s assets from its liabilities.

With this background, business transactions and events are recorded either as increase or decrease in asset, liabilities and equity.

6 0

3 years ago

On December 31, 2018, Gardner Company holds debt securities classified as HTM with a face amount of $100,000 and a carrying valu

Sunny_sXe [5.5K]

Answer:

$2,850

Explanation:

Given the following :

Face value of security = $100,000

Carrying value = $95,000

Effective interest rate = 6%

Interest paid semianually = $2500

The effective interest revenue recognized for the six months ended December 31, 2018 is:

IF effective interest rate = 6%

Semiannual interest = 6% / 2 = 3%

Therefore effective interest revenue for six months will be the product of the carrying value and the interest rate within the six months period :

3% = 0.03

0.03 * $95,000 = $2,850

3 0

3 years ago