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Question - Sheridan Inc. purchased land, a building, and land improvements from Kingswood Corporation for a cash payment of $439,000. The assets were on the books of Kingswood for the following amounts: Land: $40,000, Building cost $374,400 less Accumulated Depreciation of $78,000, and Land Improvements cost $27,000 less Accumulated Depreciation of $9,000. The assets' appraised values at the date of purchase are Land $137,460, Building $270,180, and Land Improvements $66,360.
Record the purchase of the assets on the books of Sheridan.
Record the disposal on the books of Kingswood. Record as one entry.
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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