Consider the following transactions for huskies insurance company: equipment costing $40,800 is purchased at the beginning of the year for cash. depreciation on the equipment is $6,800 per year. on june 30, the company lends its chief financial officer $48,000; principal and interest at 5% are due in one year. on october 1, the company receives $15,200 from a customer for a one-year property insurance policy. deferred revenue is credited. required: for each item, record the necessary adjusting entry for huskies insurance at its year-end of december 31. no adjusting entries were made during the year. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations.)

As manager of kids skids, meghan wants to develop her relationship management skills. in order to do this, she learns how to

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan