Rainey Enterprises loaned $30,000 to Small Company on June 1, Year 1, for one year at 9 percent interest Required a. Record these general journal entries for Rainey Enterprises: (1) The loan to Small Company. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2. . Show the effects of the three given transactions in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required Show the effects of the three given transactions in a horizontal statements model (in the Statement of Cash Flows column, use the initials OA to desig activity, FA for financing activity, and leave blank to indicate the element is not affected by the event. Enter any decreases to account belences and cas final answers to the nearest whole dola:) Event 6/1/1 1231/1 6/1/2 G/1/72 Cash Assets Notes Receivable Balance Sheet Interest Receivable Labis Stockholders Equity Retained Earnings Revenue Income Statement Expenses. Not Income Statement of Cash Flow

Rainey Enterprises loaned $30,000 to Small Company on June 1, Year 1, for one year at 9 percent interest Required a. Record these general journal entries for Rainey Enterprises: (1) The loan to Small Company. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2. . Show the effects of the three given transactions in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required Show the effects of the three given transactions in a horizontal statements model (in the Statement of Cash Flows column, use the initials OA to desig activity, FA for financing activity, and leave blank to indicate the element is not affected by the event. Enter any decreases to account belences and cas final answers to the nearest whole dola:) Event 6/1/1 1231/1 6/1/2 G/1/72 Cash Assets Notes Receivable Balance Sheet Interest Receivable Labis Stockholders Equity Retained Earnings Revenue Income Statement Expenses. Not Income Statement of Cash Flow

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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