Question 1Trevor Company’s balance sheet for December 31, 20X0 is as follows:Cash 100Accounts receivable 200Interest Receivable 25Inventory 150Notes Receivable (long term) 500Equipment, at cost400 Accumulated depreciation, Equipment150 Equipment, net 250Total assets $1,225   Accounts payable 140Wages payable 20Unearned sales revenue 40Paid-in-capital 600Retained income 425Total liabilities and stockholders’ equity $1,225 The following summarized transactions occurred during 20X1:Purchased merchandise inventory on credit, $700.Delivered merchandise to customers who had paid in advance as of December 31, 20X0.Sales of merchandise (all on credit and excluding transaction b) during 20X1 were $3,000.The cost of merchandise sold (including that in transaction b) during 20X1 was $900.Collection from credit customers was $2,500. Interest on notes receivable of 12% per annum was collected each August 1.Cash payment to suppliers, $800 (see item: a)Cash payment for wages during 20X1 was $250.New equipment was purchased on December 10 for $300 in cash.Cash dividend of $50 was declared on December 20, 20X1. The payment date of dividends was January 10, 20X2.The following adjustments were made on December 31, 20X1:            k. Accrual of interest receivable (to be computed, see item f).            l. Depreciation for 20X1, $100 RequiredAnalyze the above transactions.  Use the balance sheet equation format (spread sheet).Prepare income statement for the year 20X1. Assume that the company does not have to pay taxes.Also prepare the statement of cash flows for 20X1. Use the direct method, i.e. list separately the cash inflow/outflow entries for operations, investing, and financing activities.(Note: Each entry carries partial points. If your totals do not balance because of a wrong entry for a transaction, you will be penalized for only that entry and not for the whole problem. If you think that your entry is correct, do not change it just to make the final total to balance.). 

“Look What You Made Me Do” was a contemporary song by Taylor Swift enjoyed by some large segment of the public. This is a material example of:”

Despite the fact that most people no longer have phones with handsets that you suspend from a hook, we still say we, “hang up the phone.” when we end a phone call. This phrase still being passed down and used through generations, despite no longer matching up to our existing material world, is called:

Extra Credit .1 (No partial Credit) – Define Sociology.

This theorist concentrated on the state of blacks in America with a significant theoretical contribution of Double Consciousness (the idea that blacks in America were forced to see themselves as both Americans and problems for America) and believed that curing racial prejudice for discrimination included promoting black political power and civil rights was:

One thing functionalists have difficulty explaining is: 

The idea that you should be free to say what you want and not be punished by the government is most likely a:

Michael believes that social programs that help the poor run counter to a healthy society. He believes that the world is set up to allow the best people to succeed and the people who aren’t fit to fall behind. Doing otherwise just coddles people who aren’t meant to succeed. While others may view this as callous, Michael believes that there is a social order to society and all the parts of society are there to make sure society as a whole continues. We would associate this point of view with:

“Meegan Nicole visits Thailand from the US where, upon visiting the market, she sees stands selling deep fried insects for consumption. She steps back and puts her hand over her mouth exclaiming, “”Oh my God, how can they eat that?”” She is exhibiting what phenomena?”

“Joe the sociologist wants to understand how likely people are to be nice. He decides that as the temperature goes down, the more likely people are to be nice. He also decides that the later in the year it gets, the more likely people are to be nice. Finally, he decides that the closer to the weekend it is, the more likely people are to be nice. Which was the dependent variable?”