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Question - Teng Corporation received a bank statement showing a balance of $14,750 as of October 31, 2019. The firm's records showed a book balance of $14.303 on October 31. The difference between the two balances was caused by the following items.
1. A debit memorandum for an NSF check from Richard Wolf for $425.
2. Three outstanding checks: Check 7017 for $125. Check 7098 for $56, and Check 7107 for $1,570.
3. A bank service charge of $21.
4. A deposit in transit of $858.
Prepare the adjusted bank balance section and the adjusted book balance section of the bank reconciliation statement. Prepare the necessary journal entries for the year 2019.
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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CAPM and Venture Capital
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