Reference no: EM132816078

Refer to the statement below:

i. A Japanese insurance company purchases U.K. gilts for £76,000.00 and pays out of its bank account kept in London.

ii. A U.K. citizen consumes a meal at a restaurant in Frankfurt for £54.50 and pays with his Barclays credit card.

iii. An Indian immigrant living in Birmingham sends a check drawn on his Birmingham bank account for £300.00 as a gift to her parents living in Mumbai.

iv. A U.K. computer programmer is hired by a Swiss company for consulting and get paid £2,500.00 from the U.K. bank account maintained by the Swiss company.

Required:

Classify and record each of the following transactions in the U.K. balance of payments: