Calculate the value of the us balance of payments

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Reference no: EM13159390

1) Using double entry bookkeeping, record the following transactions in US t-accounts.

a) A Canadian citizen withdraws $300 from its US bank account and uses these funds to purchase shares of Google (an US Company) stock.

b) A Canadian citizen receives a $200 dividend payment from the Google stock and uses this money to buy wine produced in California.

c) The US gives Canada $2000 worth of meat to help relieve a shortage due to mad cow disease.

d) A Canadian investor receives $700 in interest payments from its holdings of US bonds and spends these funds on a hotel and food in New York.

2) Calculate the value of the US Balance of Payments and indicate whether it is in a surplus, deficit, or equilibrium.

Reference no: EM13159390

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