Rainey Enterprises loaned $50,000 to Small Co. on June 1, 2018, for one year at 9 percent interest. Required:
Show the effects of the following transactions in a horizontal statements.

1. The loan to Small Co.
2. The adjusting entry at December 31, 2018.
3. The adjusting entry and collection of the note on June 1, 2019.

Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

Acompany sells garden hoses and uses the perpetual inventory system to account for its merchandise. the beginning balance of the inventory and its transactions during september were as follows: