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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Regional or specialty trade shows would be better than a large, national trade show for all of the following goals, except:
A) provide higher quality prospects B) more quality one-on-one time with customers C) enhance a firm's brand or corporate name D) opportunities to bond with customers
______ refers to the extent to which individuals can demonstrate initiative in designing their own work.
A. Job enrichment B. Job crafting C. Job rotation D. Organizational justice
Spencer gave all his employees low ratings on their performance appraisals. While the employees had met their objectives for the quarter and several had exceeded their sales goals, Spencer felt that everyone could have worked harder than they did. He does not have any evidence that his employees slacked off during the quarter, he just has a feeling that more could have been done. Spencer’s performance appraisals violate the __________ part of the OUCH test.
A. Objective B. Uniform in Application C. Consistent in Effect D. Has Job Relatedness E. None of the above
Which of the following is true regarding the UCC's Statute of Frauds?
a. The writing involved must be typed, not handwritten. b. The writing must be signed by the party to be charged, not necessarily by all parties c. Any warranties must be included in the writing in order to be enforceable d. The UCC's requirements regarding a writing are strict and place significant burdens on the parties in regard to adequately including all terms of the agreement in the writing.