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3 years ago

The double-entry principle in the balance-of-payments

Business

1 answer:

Sliva [168]3 years ago

3 0

Answer:

The Current account is for goods and services.

The Financial account is for exchange of currencies and financial assets across countries.

Miguel, a U.S. resident, buys an HDTV set for $2,500 and sends it to Mexico as a gift to his parents. DEBIT CURRENT ACCOUNT. CREDIT CURRENT ACCOUNT.

Miguel buys the good in the U.S. and then sends it so this falls under the current account alone.

Arielle, a French tourist, stays at a hotel in San Francisco and pays $400 for it with her debit card issued by a French bank. DEBIT FINANCIAL ACCOUNT. CREDIT CURRENT ACCOUNT.

The Financial account should be debited to show that currency is coming into the U.S. from outside the country and current account should be credited for services rendered.

A U.S. computer manufacturer purchases hard drives from a Korean company, paying the funds from its bank account in Korea. DEBIT CURRENT ACCOUNT. CREDIT FINANCIAL ACCOUNT.

Current account should be debited to reflect that goods are coming into the country but the financial account should be credited to show that currency is leaving the ownership of an American entity so it is passing out of American hands.

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A company had no office supplies available at the beginning of the year. During the year, the company purchased $290 worth of of

ANTONII [103]

Answer:

Expensre for the year is $205

Explanation:

The cosumable equipment which offices uses regularly for professional working writing recording etc. Company holds it's inventory and record it transactions in office supplies account.

Beginning Supplies = $0

Purchases for the year = $290

Supplies at December 31 = $85

As we know

Ending Balance = Beginning Balance + Purchases - Expense for the period

$85 = $0 + $290 - Expense for the period

$85 = $290 - Expense for the period

Expense for the period = $290 - $85 = $205

7 0

3 years ago

The Chilton Corporation specializes in manufacturing one type of desk lamp. Chilton allocates variable manufacturing overhead co

Sloan [31]

Answer:

See below

Explanation:

Given the above information, we can compute variable manufacturing overhead efficiency variance to be;

= (SA - AQ) × SR

Where

Standard quantity = SQ = 19,000

Actual Quantity = AQ = 7,600

Standard Rate = SR = $1.9

Variable manufacturing overhead efficiency variance

= [(19,000 × 0.3) - 7,600] × $1.9

= (5,700 - 7,600) × $1.9

= $3,610 U

3 0

3 years ago

Which of the following theories argues that organizations try to minimize their reliance on other organizations for the supply o

aleksklad [387]

Answer: The answer is C.

Explanation: The Resource dependence theory is based on the principle that organizations, must engage in transactions with other organizations in their environment in order to acquire the resources needed for their daily operations.

Although such transactions may be advantageous, they may also create dependencies that are not, and so organization A may want to rely less on organization B, in their quest to influence the environment to make resources available.

This theory actually originated in the 1970s with the publication of The External Control of Organizations: A Resource Dependence Perspective by Jeffrey Pfeffer and Gerald R. Salancik.

The theory is based on the idea that resources are vital for organisational success and that access and control over resources forms the basis of power.

4 0

3 years ago

Read 2 more answers

Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Chester has obtained a productivity

Reil [10]

Note:

I wasn't able to access the Chester Income Statement but I successfully accessed a similar question Digby.

The Complete Question is as under:

Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Digby has obtained a productivity index of 109.6%. This means that Digby's labor costs would be increased by 9.6% if it did not have these productivity improvements. This is a competitive advantage that Digby can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Digby's Annual Report. How much did Digby's productivity improvements save it in direct labor costs (in thousands) last year?

A. $766

B. $29818

C. $3137

D. $3211

Answer:

Option D. $3,137

Explanation:

The Productivity Index of 9.6% shows that if the improvement plan is implemented then the efficiency gains would result in saving of 9.6% of total direct cost. So if we total the direct cost for the year for all of the four products then we have an amount of $32,680 which is given at the second last column.

The amount saved last year would be:

Savings = $32,680 * 9.6% = $3,137

Hence the option C is correct here.

3 0

4 years ago

Which of the following countries is on the best terms with North Korea and has demonstrated this in their treatment of 2010 even

AysviL [449]

Hi,

The answer is China

Over time, China has demonstrated their support to North Korea. In 2010 North Korea attacked with artillery the island of Yeonpyeong, where there were civilians, and South Korea responded by attacking North Korea's artillery.

Tensions scaled, and although most world governments condemned the attack, China's Ministry of Foreign Affairs didn't explicitly condemn the bombarding by North Korea and only made a call to peace in the Korean Peninsula.

4 0

3 years ago