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Question - A business owns multiple motor vehicles. The accumulated depreciation of all the motor vehicles is recorded in one Accumulated Depreciation account. The balance of Accumulated Depreciation at 1 July 2016 was $40,000CR. The balance of Accumulated Depreciation at 30 June 2017 was $30,000CR. The Depreciation expense for the year ended 30 June 2017 was $4,000DR. The business sold one of the motor vehicles during the financial year ending 30 June 2017. Using the above balances, calculate the accumulated depreciation of the motor vehicle that was sold.
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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