The financial account in the U.S. balance of payments includeseverything that is included in the current account.payments of pensions to U.S. citizens who now live in foreign countries.profits that Nissan of America sends back to Japan.new U.S. investments in foreign countries.

In a balance of payments (BOP), each transaction would have a debit and credit entry, resulting in…

Answered: The financial account in the U.S.…

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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Please help me with this question: IrishCo, a manufacturing corporation resident in Ireland, distributes products through a U.S. office. Current-year taxable income from such sales in the United States is $12,000,000. IrishCo's U.S. office deposits working capital funds in short-term certificates of deposit with U.S. banks. Current-year interest income from these deposits is $150,000. IrishCo also invests in U.S. securities traded on the New York Stock Exchange. This investing is done by the home office. For the current year, IrishCo has realized capital gains of $300,000 and dividend income of $50,000 from these stock investments. Compute IrishCo's U.S. tax liability, assuming that the U.S.-Ireland income tax treaty reduces withholding on dividends to 15% and on interest to 5%. Assume a 21% U.S. tax rate. IrishCo's U.S. tax liability is $
If an American purchases a ticket from Scandinavian Airlines, paying by a personal check, which of the following entries would be the result? Group of answer choices a. a credit in Norway's service account b. a debit in Norway's service account c. a credit in the U.S. unilateral transfers account d. a debit in the U.S. unilateral transfers account
Companies conducting business outside their country's borders are required to translate the results of its foreign subsidiaries into their home currency so those results can be combined into their financial reporting domestically. What are three general steps to the foreign translation process

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The financial account in the U.S. balance of payments includes O everything that is included in the current account. payments of pensions to U.S. citizens who now live in foreign countries. profits that Nissan of America sends back to Japan. new U.S. investments in foreign countries.