If you found a one-of-a-kind prototype of a revolutionary new mobile phone lying on a public bench, what would you do with it? What would be the consequences of your chosen action? Does the value of a parcel of land come only from the profits it can generate? If not, what makes land valuable? Does it ever have any value that is not recognized by the law? What is the role of governments in regulating the use of any form of property? Why do laws work so well maintain standard uses, and what would be alternative ways to set boundaries on what businesses could do?

Clooney corp. establishes a petty cash fund for $225 and issues a credit card to its office manager. by the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $59; delivery, $84; supplies expense, $49).record all employee expenditures, and record the entry to replenish the petty cash fund. the credit card balance will be paid later. (if no entry is required for a transaction/event, select "no journal entry required" in the first account record expenditures from credit card and the petty cash fund.