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Following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year. The capital of Robin Egan, owner, was $45,000 on January 1, 2010, the beginning of the current year. During the current year, Robin withdrew $7,500.
Instructions
1. Prepare an income statement for the current year ended December 31, 2010.
2. Prepare a statement of owner's equity for the current year ended December 31, 2010.
3. Prepare a balance sheet as of December 31,2010.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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