Ron Knuckle set up a business selling keep fit equipment, trading under the name of Buy Your Biceps Shop. He put $7.000 of his own money into a business bank account (transaction A) and in his first period of trading, the following transactions occurred. Transactions: B: Paid rent of shop for the period: $3.500.

C: Purchased equipment (inventories) on credit: $5.000.

D: Raised loan from bank: $1.000.

E: Purchase of shop fittings (for cash): $2.000.

F: Sales of equipment cash: $10.000.

G: Sales of equipment, on credit: $2.500.

H: Payments for trade accounts payable: $5.000.

I: Payments from trade accounts receivable: $2.500.

J: Interest on loan (paid): $100.

K: Other expenses (all paid in cash):$1.900.

L: Drawings: $ 1.500.

Required: Identify the debit and the credit entries in the above transactions.
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Match the vocabulary word to the correct definition. 1. compensation 2. corporate social responsibility 3. discrimination 4. benefits 5. biodegradable a. a business’s obligation to the community and the environment b. the ability to naturally break down or decompose c. treating someone differently because of his or her race, religion,gender, sexual orientation, or disabilities d. indirect and non-cash compensation paid to employees e. the salary and other benefits for doing a job

Alarge university wanted to study the relationship between completing an internship during college and students' future earning potential. prom the same graduating class, they selected a random sample of 80 students who completed an internship and 100 students who did not complete an internship and examined their salaries five years after graduation. they found that there was a statistically higher mean salary for the internship group than for the noninternship group. which of the following interpretations is the most appropriate? a. there could be a confounding variable, such as student major, that explains the difference in mean salary between the internship and no internship groups.b. we cannot infer anything from these data since the distribution of salaries is likely right skewed.c. you cannot draw any valid conclusions because the sample sizes are different.d. more students should complete internships because having an internship produces a higher salary.

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.