The following information relates to the Victoria Company at the end of 2017. The accounting period is the calendar year. 1. Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $4,000 per week. The accounting period ends on a Tuesday.
2. A note for $5,000 was received from a customer in a sales transaction on April 1, 2017. The note matures in one year and bears 8% interest.
3. On September 1, 2017, Victoria borrowed $10,000 cash by signing a note payable due in one year at 6% interest.
4. The supplies inventory on January 1, 2017 was $9,350. Supplies costing $24,150 were acquired during the year and charged to the supplies inventory. A count on December 31, 2017 indicated supplies on hand of $8,810.
5. On April 30, a ten-month, 6% note for $30,000 was received from a customer.
6. On May 1, $20,000 was collected as rent for one year and a nominal account was credited.
Instructions
Using the information given above, prepare the necessary adjusting entries at December 31, 2017.

Select the word from the list that best fits the definition sometimes

Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?