Ryan, a foreign-exchange dealer, sold U. S. dollars for Swiss francs in the United States, then sold Swiss francs for Japanese yen in Switzerland, and then sold the Japanese yen for U. S. dollars in the United States. Ryan hopes that he will end up with more U. S. dollars than when he began. Which term best describes Ryan's actions

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.