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All of the transactions below come from The Lord of the Rings. Show how each is...

All of the transactions below come from The Lord of the Rings. Show how each is recorded in the balance of payments for the specified location. Remember, all transactions produce two entries: a credit (+) and a debit (–). If a part of the transaction involves the current account, you must specify which portion of the current account is involved (i.e., the trade balance, net factor income from abroad, or net unilateral transfers). Each question is worth one point.

5. Lobelia and Lotho Sackville-Baggins, who are from Sackville, which is southwest of the Shire, acquire Bag End, which is Frodo Baggin’s house in the Shire, for 1,000 silver pennies. Please write the entries for this transaction in the balance of payments accounts of the Shire.

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Answer #1

For AccouShire BOPnt

Credit Entry - 1000 silver pennies

(Sale of assets leads to inflow of foreign currency)

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