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Question - The following information was obtained from the financial records of Bulmer Ltd for the year ended 30 June 2020. Prepare the statement of profit or loss for the year ended 30 June 2020. Retained earnings 1 July 2019 $180 000 Sales revenue from continuing operations for the year $1 200 000 Finance costs $49 000 Estimated income tax expense for the year ended 30 June 2020 $101 000 Interim dividends paid (ordinary shares) $40 000 Write off research and development costs $8 000 Share capital (1 million $1 shares) $1 000 000 Expenses from ordinary activities (excluding finance costs) $500 000
Required -
a) Prepare the statement of profit or loss for the year ended 30 June 2020.
b) Prepare statement of changes in equity for the year ended 30 June 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?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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