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1.The face value of commercial paper borrowings at December 31, 2020, was $6 million. The six-month loan origi- nated on September 1, 2020. a. Prepare the journal entry for issuance of the loan on September 1, 2020, assuming that the loan is discounted at 5.7%. Hint: Discount on Note Payable is equal to 6 months of interest.

2.Young the Giant Corp. was formed in 2018, with 10,000 shares of $100 par value, 5% cumulative, preferred stock and 500,000 shares of $1 par value common stock authorized. The company engaged in the following transactions.

2018:

• On January 2, 2018, the company issued 50,000 shares of common stock at a price of $30 per share.

• January 3, 2018, the company issued 5,000 shares of preferred stock for par value.

• The net loss for 2018 was $800,000. The company closed it out to retained earnings from income summary on December 31. (Prepare that entry.) No dividends were declared.

2019:

• The company repurchased 2,000 shares of common stock on November 25, 2019 at a cost of $35 per share. It is recorded using the cost method.

• The company generated net income during 2019 of $2,000,000. The company closed it out to retained earnings from income summary on December 31. (Prepare that entry.)

• On December 31, 2019, the company announced a total dividend of $150,000. The company records all dividends in one Dividends and one Dividends Payable account, but shows separate preferred and common dividends amounts in journal entry explanations. Required: Show all calculations.

a) Prepare journal entries in proper form for the 2018 and 2019 transactions above. Any calculations must be shown below the entries as part of the explanations.

b) Prepare the stockholders’ equity section of the balance sheet after the two years have passed, so as of December 31, 2019. This excerpt from the balance sheet must:

• Have a proper heading;

• Show all amounts in currency format with zero decimal places;

• Use proper single- and double-underlining;

• Show all categories of shares as part of each category of stock;

• Show par values and the preferred dividend rate, and

• Follow all general formalities.

3.There is no difference between the method of total and unilateral distribution when allocating indirect industrial costs from service centers to production centers.

4.When an infant produces babbling that repeats CV sequences ("da da da da"), this is called babbling. repetitive O sequential O reduplicative O idiomorphic 2 pts D Question 2 Which of the following sounds are acquired early for children who have English as their first language? O rhotics bilabial consonants O laterals O fricatives.

5.Learning Objectives 1, 2, 3, 4, 5, 6 P-F:4-32A Completing the accounting cycle from adjusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Walton Anvils at December 31, 2024, and the data for the adjustments follow: 5. Net Income $18,890 WALTON ANVILS Unadjusted Trial Balance December 31, 2024 Balance Account Title Debit Credit Cash $ 13,480 14,500 2,320 1,700 23,000 Accounts Receivable Prepaid Rent Office Supplies Equipment Accumula el Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends $ 1,000 7.100 6,000 24,000 4,500 4,600 Service Revenue 19,500 I 2.500 Salaries Expense Rent Expense Depreciation Expense-Equipment Cinnliar Cunanen
2,500 Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Total $ 62,100 $ 62,100 Adjustment data: a. Unearned Revenue still unearned at December 31, $1,800. b. Prepaid Rent still in force at December 31, $2,100. c. Office Supplies used, $1,500. d. Depreciation, $390. e. Accrued Salaries Expense at December 31, $200. Requirements 1. Open the T-accounts using the balances in the unadjusted trial balance. 2. Complete the worksheet for the year ended December 31, 2024 (optional). 3. Prepare the adjusting entries and post to the accounts. 4. Prepare an adjusted trial balance. 5. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form. 

6.It can be said that the volume of sales that achieve a certain profit rate = the value of sales that achieve a certain profit rate - unit sale price