Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. help needed rainey enterprises loaned $35,000

Help needed Rainey Enterprises loaned $35,000 to Small Co on June...

60.1K

Verified Solution

Question

Accounting

Help needed image
Rainey Enterprises loaned $35,000 to Small Co on June 1. 2018, for one year at 7 percent interest Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). The letters NA indicate that an element is not affected by the event. (Do not round intermediate calculations and round final answers to nearest dollar amount. Enter any decreases to 00:49.17eccount belances and cesh outlows with a minus sign.) (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 Hozotal Satements Mode HEquty Date Statement of C CashNotes (35,000). Retained Revenue:Expense Net Income Flow 35,000 (35,000) 2 12/31/18 1428 5 889 1,428 5,889 1,428 3 6119 1,428 5,889 5,889 NA 1/19 61/19

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Football players demonstrated a variety of physiological impacts of water imbalances. A couple of the things...

Biology
1.2K views

Compare the Pyruvate Dehydrogenase Complex to the Branched Chain Ketoacid Dehydrogenase Complex. How are they similar...

Physics
1.2K views

exhibit significantly different optical behavior without violating any physical laws Since n is negative it...

Geometry
1.2K views

Based on these segment lengths which group of segments can form a triangle OA 3...

Basic Math
1.2K views

a The unit circle is the circle centered at b The equation of the unit...

Calculus
1.2K views

Use the integral table to find Sx e x dx x e3x e3x Ox xx...

Calculus
1.2K views

87 A manufacturer determines the relationship between the demand and price for an item is...

Algebra
1.2K views

2 20 pts Rate of Change Look at the table below and answer the following...

Accounting
1.2K views

Before you reconcile your check register balance does not include the bank's service charge true...

Accounting
1.2K views

What risks do banks face? How did these risks manifest themselves during the financial crisis?...

Accounting
1.2K views

ced 00 Phan Corporation manufactured 37,000 units during March. The following fixed overhead data relates...

Accounting
1.2K views

From the WALMART Annual Report of 2023, pls calculate the following: Return on...