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Question - A company's bank statement indicated there as a cash balance of $11,410 on June 30.
Other facts:
a. Outstanding checks on June 30 totaled $5,360.
b. The company had received $1,940 from a customer on June 29 and deposited it in the bank the same afternoon, but it was too late for it to appear on the June 30 bank statement.
c. On June 16 the bank had collected a note that was due to the company from a customer. The principal amount of the note was $3,000 and a total of $3,018 appeared on the company's June 30 bank statement.
d. The bank had added $40 to the June statement for bank service charges.
What is the total amount on the adjusted ending bank balance as of June 30 after the bank reconciliation is prepared?
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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