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Question - Neil Brown is a businessman who buys packages of goods and wholesales the package for cash. His business is registered as a Vat Vendor. During March 2022 he purchased for cash a package of goods for R28 000 (exclusive of 15% Vat). Neil used a mark-up of 30% on the cost price and sold the package for R41 860 (Inclusive of 15% VAT). Neil uses the perpetual inventory system to keep records of his trading activities.
Required - Record general journal entries for the purchase and sale of the package of goods. You do not have to record the dates but must include a brief narration appropriate for both the purchase and sale of the goods above.
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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