Rodney, the sole shareholder of Orange Corporation, an accrual method, calendar year corporation, loaned the corporation a substantial amount of money on January 1, 2018. Orange Corporation accrued $45,000 of interest expense on the loan on December 31, 2018. Orange pays the interest to Rodney, a cash basis taxpayer, on January 1, 2019. Based on these facts:

a. Orange Corporation will be allowed to deduct the interest expense in 2018 and Rodney will be required to report the interest income in 2019.

b. Orange Corporation will be allowed to deduct the interest expense in 2019 and Rodney will be required to report the interest income in 2018.

c. Orange Corporation will be allowed to deduct the interest expense in 2018and Rodney will be required to report the interest income in 2018.

d. Orange Corporation will be allowed to deduct the interest expense in 2019 and Rodney will be required to report the interest income in 2019.

e. None of the above.

Your assessment tool contains rich data about child progress in language and literacy but no details to explain the differences between children. you decide to: a. replace the tool with another b. analyze the data using factors such as language, ability, and participation rates c. review your anecdotal notations regarding language and literacy development d. talk with families about what they are seeing at home

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

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