Cherokee Company began operations when it issued common stock for $111,500 cash. It paid $100,350 cash in advance for a one-year contract to lease delivery equipment for the business. It signed the lease agreement on March 1, Year 1, which was effective immediately. Cherokee received $128,225 of cash revenue in Year 1. Required

a. & b. Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general journal format.

c. Show all events in a horizontal statements model.

d. & e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cash flow from operating activities for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the December 31, Year 1, balance sheet.

Case in point 1.2 suppose you work in the it department of global hotels, a multinational hotel chain. global hotels runs several specialized business support systems, including a guest reservations system that was developed in-house to meet the requirements of a large company with worldwide operations. guests can make one-stop online reservations by visiting global's website, which has links to all major travel industry sites. global hotels just acquired momma's, a regional chain of 20 motels in western canada. momma's uses a vertical reservations package suitable for small- to medium-sized businesses and a generic accounting and finance package. should momma's use global hotels' information systems or continue with its own? in your answer, consider issues such as business profiles, business processes, system interactivity, edi, ecommerce, and the characteristics of both information systems. what additional information would be to you in making a recommendation?

1. gar principles or "the principles"are intended to do what?

If a bond is issued at a premium the effective interest rate is most likely