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Question - On December 31, Johnson Co. had the following list of accounts.
Additional Resources
Accounts Payable $34,400
Drawing $10,100
Accounts Receivable 69,300
Ending Capital 127,600
Advertising Expense 8,700
Legal Expense 9,300
Beginning Capital 118,200
Prepaid Rent 21,400
Cash 67,200
Rent Expense 8,300
Consulting Revenue 51,700
Supplies 18,900
Deferred Revenue 14,800
Supplies Expense 5,900
Required - Prepare a balance sheet on December 31, classifying and ordering all balance sheet accounts in the proper sections.
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?
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