Answer:
An increase in the price of one substitute good causes a decrease in supply for the other.
Explanation:
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Answer:
<h2>The journal entry is shown below:</h2>
Explanation:
The journal entry for recording the establishment of the fund is as:
On September 1
Petty cash A/c.....................Dr $250
Cash A/c...........................Cr $250
Being recording the petty cash in the books
As creating the fund for the petty cash in the books, the account of petty cash is debited as there is increase in the assets which is debited. And the petty cash is created against cash. Therefore, the cash account is credited.
The key movements via are to increase the economy consist of a decreased bargain fee, buying government securities, and a decreased reserve ratio.
<h3>When the Fed makes use of contractionary policy?</h3>
When GDP in a kingdom is growing too fast, inflicting inflation to grow past a suited charge of two%, central banks will put in force a contractionary economic coverage. The Federal Reserve, or any principal financial institution, has three primary pieces of equipment to reduce the money supply.
A direct advantage of contractionary economic coverage is that it strengthens government budgets. As an instance, whilst the Fed's bargain price increases, the government earns extra cash from the banks that borrow budget from the Fed's cut price window. The government can use this supply of sales to offset spending and decrease price range deficits.
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The audit working paper that reflects the major components of an amount reported in the financial statement is the Lead Schedule.
<h3>What is the Lead Schedule?</h3>
- A working document known as a lead schedule lists the specific general ledger accounts that make up a line item in the financial statements.
- The sum for the related line item in a client's financial statements should match the number on the lead schedule.
- The general ledger (GL) accounts that are present in each financial statement line item and note disclosure are listed in a lead schedule.
- Each line item or group of related line items on the financial statement would typically have its lead schedule. The final balance in the financial statements and the sum on the lead schedule should match.
- The lead schedule gives a list of the contents of each line item. This is a useful starting place for your records.
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