Based upon recording balance of payment (BOP) transactions
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Based upon recording balance of payment (BOP) transactions, determine whether or not the following is a debit, credit, or no entry to the U.S. Balance of Payment statement. Also determine what chart of account is affected (i.e., CA, KA, or OSB):
1. U.S. resident purchases Mercedes Benz C230,
2. U.S. resident purchases Chevelot Impala,
3. foreigner purchases GE dryer,- Purchase and sale of a U.S. asset by foreigners is a credit to the capital account in BOP. Purchase and sale of a foreign asset by U.S. residents is a debit to the capital account in BOP
4. U.S. resident purchases UK stock, and
5. U.S. resident borrows funds from British broker to purchase stock.
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Status NEW
Posted 01 Jun 2017 08:06 PM
My Price 10.00
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