Ipo and Man, partners in the Karate Company have capital balances of P300, 000 and P120,000 respectively. Lee is to be admitted into the partnership with 20% interest in the business. Required:
Record the admission of Lee for each of the following independent situations:
a. Lee invests P180, 000, and recognized the undervaluation of inventory.
b. Lee invest P180, 000, Total capital is to be P600, 000.
c. Lee purchases 20% of Ip and Man by paying P100, 000.
d. Lee invests P96, 000 and total capital is to be P 516,000.
e. Lee invests P96, 000 and recognized overvaluation of land.
f. Ip and Man assign 20% of their interest to Lee.
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Which of the following is an example of the use of fiscal policy by the u.s. government? a. congress makes it illegal for the police union to go on strike. b. the federal reserve bank lowers the interest rate on loans to corporations. c. the department of transportation increases spending on highway repairs. d. the supreme court rules that unions have the right to collective bargaining. 2b2t

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Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.