Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
Answer: Capital, Good Market Economy and Massive Urban Centres
Explanation:
Commercial sports are most likely to grow and prosper in societies with enough capital because for every buying and selling process, capital must be involved to set up marketable products. So, a commercial sport would require capital to have nice viewing areas, infrastructure and manpower.
Also, sports is incomplete without a massive urban center. A society with massive urban centres has a profitable potential for commercializing its sporting activities.
Lastly, a society with a good market economy that has its investment and production decisions dependent on supply and demand is a good spot for commercial sports.
Answer:
Explanation:
When Leverett's exports became less popular, its savings, Y-C-G does not change. Reason being that, it is assumed that Y depends on the amount of capital and labour, consumption depends only on disposable income and government spending is a fixed extrinsic variable.
Since investment depends on interest rate, and Leverett is a small open economy that takes the interest rate as given, thus investment also does not change . Neither does net export change (This is shown by the S-I curve in the attachment).
The decreased popularity of Leverett's exports leads to an inward shift of the net export curve inward. At the new equilibrium,net exports remains unchanged, though the currency has depreciated.
Leverett's trade balance remained the same, despite the fact that its exports are less popular, this is due to the fact that the depreciated currency provides a stimulus to net exports which overcomes the unpopularity of its exports by making them cheaper.
b. Leverett's currency now buys less foreign currency, thus traveling abroad becomes more expensive. This is an instance showing that imports (including foreign travel) have become more expensive- as required to keep net exports unchanged in the case of decreased demand for exports.