Hernandez Company began business operations and experienced the following transactions during Year 1, its first year of operations:1) Issued common stock for $50,000 cash.2) Provided services to customers for $125,000 on account.3) Purchased $2,500 of supplies on account.4) Paid $30,000 cash to rent office space for a 12-month period beginning July 1.5) Collected $115,000 cash from customers.6) Paid cash for $90,000 of operating expenses.7) Adjusted the accounting records to reflect that there was $750 of supplies remaining on hand at year-end.8) Recorded a year-end adjustment to recognize rent expense.Required:a) Record the above transactions on a horizontal statements model, reflecting their effect on the different financial statements.b) Prepare Hernandez Company's income statement,
balance sheet and statement of cash flows for the year ended December 31, Year 1.
What will be an ideal response?
a) 
b)
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Which of the following statements about determining personality style is true?
A. Everyone has a primary personality style. B. Do not rely on environmental signals. C. A person's primary style often remains the same in normal and stress situations. D. It is easiest to deal with people who exhibit all four personality styles. E. People cannot have all four styles at once.
A nation whose currency is a reserve currency
A. has trade advantages because the currency will be stronger. B. will have a deficit. C. has undue influence on international trading patterns. D. will lose purchasing power.
If variable costs per unit decreased because of a decrease in utility rates, the break-even point would:
A) decrease B) increase C) remain the same D) increase or decrease, depending upon the percentage increase in utility rates
A sample of 150 students at a state university was taken after the final business statistics exam to ask them whether spent more time working or studying the weekend before the final exam, and whether they did well or poorly on the final. The following table displays their responses. Did Well in Exam Did Poorly in Exam Studied60 15 Worked22 53 What percentage of the students in the sample spent more time studying than working the weekend before the final exam and did well on the final exam?
What will be an ideal response?