Which category within bop accounts credit or debit appear

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Problem

Using the double-entry accounting system, show how the following transactions will generate credits and debits in the Australian Balance of Payments (BoP) accounts. Specify clearly which category (and sub-category) within the BoP accounts each credit or debit will appear. For example, a debit can appear in the Current Account, sub- category Goods.

Question 1. A citizen of Hong Kong undertakes a holiday in Australia and has dinner at a restaurant in Sydney. He pays for the meal using his credit card issued by a bank in Hong Kong.

Question 2. An Australian citizen purchases a camera from a department store in Tokyo during his holiday trip in Japan, paying by using his credit card issued by ANZ bank in Australia.

Question 3. An Australian company pays dividend income to a foreign investor by depositing money to the foreign investor's account with a local bank in Australia.

Reference no: EM133494739

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