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Exercise - Bank Reconciliation Adjustment
The balance in Happ, Inc.'s general ledger Cash account was $13,200 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $11,830. Reconciling items included deposits in transit, $1,270; bank service charges, $105; NSF check written by a customer and returned with the bank statement, $520; outstanding checks, $450; and interest credited to the account during September but not recorded on the company's books, $75.
Required -
a. Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items for Happ, Inc., at September 30. (Enter decreases to account balances as a negative.)
b. What is the amount of cash to be included in the September 30 balance sheet for the company's bank account?
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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CAPM and Venture Capital
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