Don't give solution in image format.. Saved1Examine the following summary of the U.S. balance of payments for 2017 (in $ billion) and fill in the blank entries. (Negative amountsshould be indicated by a minus sign. Round your answers to 1 decimal place.)pointsCurrent Account[1] ExportseBookPrint[1.1] Goods[1.2] Services[2] Imports[2.1] Goods[2.2] ServicesCredits$2,351.11,553.4797.7Debits$ -2,903.4-542.5[3] Primary income928.1-706.4References[4] Secondary income154.0-272.6Balance on current accountCapital Account24.8Balance on capital account24.8Financial Account[5] Direct investment354.8-379.2[6] Portfolio investment[6.1] Equity securities[6.2] Debt securities799.2-609.8155.7-166.8643.5-419.9[6.3] Derivatives, net-23.1[7] Other investment383.7-218.5Balance on financial account330.2[8] Statistical discrepanciesOverall balanceOfficial Reserve Account$-1.71.7

1)Total Imports = -2903.4Service imported = -542.5Good imported = -2903.4 -…

Answered: Saved 1 Examine the following summary…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following Table 1 is the balance of payment for Malaysia in the year 2019. Table 1 Items RM (million) Exports of goods 95,750 Import of goods 98,230 Transportation 93 Nett transfer 350 Errors and omissions 750 Official long-term capital (net) 630 Freight and insurance -4,255 Other Services 1,550 Travel 655 Investment Income -5,525 Corporate investment (nett) 9,200 Private short-term capital (nett) 3,215 Based from the Table 1, calculate the following: a. Service account balance. b. Balance in current account. c. Capital account balance. d. Overall balance.
Question 1 Refer to the data in the table below. CURRENCY EUR-USD USD-JPY GBP-USD AUD-USD USD-CAD USD-CHF EUR-JPY EUR-GBP USD-HKD EUR-CHF USD-KRW Source: Bloomberg.com a. b. C. VALUE 1.0661 134.3400 11964 0.6868 1.3469 0.9274 143.2200 0.8911 7.8480 0.9887 1,293.8000 If you want to buy 10,000 EUR, how much USD do you have to pay? If you have 200 GBP, how much EUR can you exchange? If you need 200,000 JPY, how much HKD do you have to pay?
1. Based on the latest exchange rates, how much does one US$, Euro, British Pound, Mexican Peso, and Japanese Yen cost in CAD$ - Rounded to four decimal places. (Please provide the website and date when you retrieved your data!)
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1. Based on the following information, answer the problems showing procedure for each problem. CURRENCY SPOT & FORWARD RATES TABLE_1 U.S./Can. $1 U.S. $1 Cdn Cdn.$ U.S. $ in in Country per unit per unit Cdn.$= U.S.$= 1.5833 0.6316 SPOT 1 month forward 1.5847 2 months forward 1.5861 3months forward 1.5879 6months forward 1.5932 12months forward 1.6041 3years forward 1.6328 5years forward 1.6538| 7years forward 1.6738 10years forward 1.7133 Britain 1 m forward 2 m forward 3 m forward 6 m forward 12 m forward Europe 1 m forward 3 m forward 6 m forward 12 m forward Japan (pound) 2.4582 2.4559 2.454 2.4525 2.4474 2.4392 1.5504 1.5497 1.549 1.5489 1.5506 (Yen) 0.013034 0.008232 1 m forward 0.013066 0.008245 1.5526 1.5498 1.5472 1.5445 1.5362 1.5206 0.9792 0.9779 0.9755 0.9722 0.9666 0.631 0.6305 0.6298 0.6277 0.6234 0.6124 0.6047 0.5974 0.5837 (euro) Cdn.$ in 2001: High 1.5028 Low 1.6183 Average 1.5701 0.6654 0.6179 0.6369 3 m forward 0.013131 0.00827 6 m forward 0.013231 0.008305 12 m…
Mozzie Ltd has a functional currency of A$. On 1 April 2023, Mozzie Ltd sells goods to a customer on credit terms for US$100 000. On 1 August 2023, cash is received from the customer to settle the invoice Exchange rates are:1 April 2023 US$1.00 = A$1.3030 June 2023 US$1.00 = A$1.501 August 2023 US$1.00 = A$1.40What is the journal entry to record the sale transaction on 1 April 2023? a. DR Accounts Receivable $130 000CR Sales $130 000 b. DR Accounts Receivable $130 000DR Foreign Exchange Loss $20 000CR Sales $150 000 c. DR Accounts Receivable $150 000CR Foreign Exchange Gain $20 000CR Sales $130 000 d. DR Inventory $130 000CR Accounts Payable $130 000
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Part II – Answer each of the following showing all work. Complete the following: Basic conversion (strong / weak) March 18 EUR / USD 1.2311 USD / EUR ? March 19 EUR / USD 1.2211 USD / EUR ? Which currency has strengthened? Which currency has weakened?
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