Emily is trying to decide between investing $1,000 or $1,500…

Emily is trying to decide between investing $1,000 or $1,500 at the beginning of each year for the next 40 years into a retirement account yielding 10.78%. After 40 years, how much extra money will Emily have in her IRA if she invests $1,500 annually instead of $1,000 annually?

Town Laundry Ltd. purchased $5,500 worth of laundry supplies…

Town Laundry Ltd. purchased $5,500 worth of laundry supplies on June 2 and recorded the purchase as an asset in the Supplies account. On June 30, a count of the laundry supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 is