Question
Some transactions undertaken in 2018 by the country of Moyes with the rest of the world are shown below. The currency of Moyes is the
Some transactions undertaken in 2018 by the country of Moyes with the rest of the world are shown below. The currency of Moyes is the Moyes marks- BM ( i ) A French retail chain has imported 50,000 BM worth of wine from Moyes. The goods were invoiced in euros. ( ii ) Citizens of Moyes spent 30,000 BM abroad on hotel bills and 20,000 BM on souvenir purchases. ( iii ) A British company sold a radar, worth 10,000 BM to the army of Moyes. The radar was priced in pound sterling. ( iv ) As part of its portfolio diversification strategy, the National Pension Fund of Moyes purchased 15,000 BM worth of shares on the Tokyo Stock Exchange. ( v ) Bino Ltd received 25,000 BM worth of dividends from the investments it holds in a US company
Required: Classify in Debit/Credit form, these transactions as sub-components of the current account or capital/ financial account.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started