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Question - At February 1, the statement of financial position accounts for Winter EE Ltd. were as follows:
Accounts payable $4,000
Accounts receivable 2,800
Bank loan 146,000
Building 168,000
Cash 6,000
Common shares ?
Equipment 18,700
Land 53,000
Retained earnings 63,200
Supplies 2,600
The following transactions occurred during the next two days: Shareholders invested an additional $32,000 cash in the business. The accounts payable were paid in full. (No payment was made on the bank loan payable.)
Required - Prepare a statement of financial position at February 3, 2022.
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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Prepare the bank reconciliation for company.
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