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Question - On January 1, 2020, X Company purchased 25% (25,000 shares) for $250,000 of the outstanding common shares of Y Company but was unable to obtain significant influence over Y as 8 members of the Board of Directors were from companies other than the X Company. The shares of X were trading at $10.00/share at this time. On September 1st. 2020, X purchased another 35% (35,000 shares) for $385,000 of the Y Company and thereby obtained voting control over the Y Company. Y appointed 7 members to the Board of Directors. The shares of Y were trading at $12.00/share at this time and $14/share at the year end. Y reported Net Income of $120,000 for the year and paid dividends of $60,000 for the year. The income and dividends were earned and paid evenly over the year.
If X used the cost method to record the investment what is the balance in the investment account at December 31st. 2020?
If X switched to recording the investment in Y as of September 1st. 2020, what is the balance in the investment account at December 31st., 2020?
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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