PARTI 1entify the type of business for Galmart and Small A Merchandising business 8 Manufacturing business C Service business DBanking 2. The following information relates to ABC Company Cash Jan 1 2021 Cash paid for operating expenses Cash paid for land Cash received from customers Cash paid to owner for personal use Cash received from additional investment of owner What is net cash from financing activities? A $600 000 880 000 1 745 000 600 000 1 505 000 30 000 80 000 8 $240 000 C$50 000 0 $315 000 3. On April 1, the supplies account balance was $2 030. During April, supplies of $5 600 were purchased, and $2 000 of supplies were on hand as of April 31. Determine supplies expen April AS9 630 855 630 C$2000 D53 600 4. During the year, the Company returned a half of the office supplies purchased earlier $1 200. How would you record this journal entry? A Dr Account payable $600 Cr Office Supplies $600 B Dr Cash $1 200 Cr Office Supplies $1 200 C Dr Office Supplies $1 200 Cr Accounts payable $1 200 D Dr Accounts receivable $600 Cr Office Supplies $600 5. The New York Times journal sold standard annual subscriptions to 6 000 custome for cash. The price of standard annual subscription is $200. What is the January m adjusting entry to be made by the journal's accountant? A Dr Cash $1 200 000 Cr Revenue $1 200 000 B Dr Unearned revenue $100 000 C Dr Revenue $100 000 Cr Revenue earned $100 000 Cr Cash $100 000 D Dr Subscription expense $1 200 000 Cr Accounts payables $1 200 000