An officer states that the average fine levied by the safety office against companies is at most $200. A company owner suspects it is higher. She samples 10 companies and finds that the average is $210. The standard deviation of the sample is 16. Test the claim that the average is higher than $200. At α = 0.05, which of the following is true?
January 3, 2018
Prepare a statement of cash flows for Gallagher, Inc., for the year ended December 31, 2017, using the indirect method in the Operating Activities section of the statement.
January 3, 2018

Performed services for $7,800 cash

Indicate the impact of each of the transactions below on the fundamental accounting equation (Assets = Liabilities + Owner’s Equity) by placing a “+” to indicate an increase and a “−” to indicate a decrease. The first transaction is entered as an example. TRANSACTIONS 1. Paid $2,100 for utilities. 2. Performed services for $10,500 on account. 3. Received $6,500 from charge account customers. 4. Paid salaries of $4,500 to employees. 5. Paid $8,000 to a creditor on account. 6. Owner invested $90,000 in the business. 7. Purchased $26,700 of supplies on account. 8. Purchased equipment for $21,000 cash. 9. Paid $6,000 for rent (in advance). 10. Performed services for $7,800 cash View Solution:
Indicate the impact of each of the transactions below on

 

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