Where Would Each of the Following Appear in the Balance

question 23

Essay

Where would each of the following appear in the balance of payments account?
(a)You order some tulip bulbs from a supplier in Holland.
(b)While on vacation in London,you pay to have your shoes repaired.
(c)A Canadian firm buys shares in a German company.
(d)You receive dividends from the ownership of a German company's stock.
(e)A Japanese citizen buys a Canadian bond.
(f)A Canadian company builds a manufacturing plant in Mexico.

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Definitions:

FICA

The Federal Insurance Contributions Act; it mandates a payroll tax equally shared between employees and employers to fund Social Security and Medicare.

Time Tracking Preferences

Customizable options in time-tracking software that allow users to configure how time is recorded, categorized, and reported.

Form W-2

An official document issued by employers in the United States to report an employee's annual wages and the amount of taxes withheld from their paycheck.

Form 1099-MISC

Form 1099-MISC is a document used in the U.S. to report payments made to freelancers, independent contractors, and other non-employee services.