The payment of dividend by an American company to a foreign stockholder represents ( ).
A: a debit in the S. capital account
B: a credit in the current account
C: a credit in the S. official reserve account
D: a debit in the S. current account
A: a debit in the S. capital account
B: a credit in the current account
C: a credit in the S. official reserve account
D: a debit in the S. current account
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- A company receives £500 of cash as an additional investment in the company by its owner, Mary Smith. The company's Cash account is increased and Mary Smith, Capital is increased. Should the £500 entry to the Cash account and to Mary Smith, Capital be a debit or a credit, respectively? A: a debit; a debit B: a debit; a credit C: a credit; a debit D: a credit; a credit
- In terms of balance of payments accounting, which of the following would be recorded as a debit entry? A: Exports of merchandise B: Exports of services. C: A foreigner's purchase of a S. Treasure bond. D: An increase in a S. citizen's account at a foreign bank.
- Matthew Company purchases a trading security for $12,000 cash. The journal entry to record this transaction will include a: A: debit to the Investment in Trading Securities account and a credit to Cash. B: debit to Cash and a credit to the Investment in Trading Securities account. C: debit to Long-term Investment and credit Cash. D: debit to Dividend Revenue and credit to Cash.
- The official settlements balance or balance of payments is the sum of the current account balance and the capital account balance.
- Unearned Revenue is a ________ account and carries a ________ normal balance. A: liability; credit B: asset; credit C: revenue; debit D: asset; debit