1. David's gasoline station offers a discount if the customer pays in cash. Past evidence indicates that 70% of all customers pay in cash (probability of a success). If 10 customers are randomly selected, what is the mean number of customers that pay in cash? Select one:
a. 1.000
b. 0.7
c. 10
d. 7
2. David's gasoline station offers a discount if the customer pays in cash. Past evidence indicates that 70% of all customers pay in cash (probability of a success). If 10 customers are randomly selected, what is the standard deviation of the customer that pay in cash?
Select one:
a. 1.000
b. 0.976
c. 0.028
d. 1.449
3. David's gasoline station offers a discount if the customer pays in cash. Past evidence indicates that 70% of all customers pay in cash (probability of a success). If 10 customers are randomly selected, what is the probability that at least 9 pay in cash?
Select one:
a. 0.033
b. 0.976
c. 0.024
d. 0.149
4. David's gasoline station offers a discount if the customer pays in cash. Past evidence indicates that 70% of all customers pay in cash (probability of a success). If 10 customers are randomly selected, what is the probability that all 10 pay in cash?
Select one:
a. 0.976
b. 0.028
c. 1.000
d. 0.149
5. David's gasoline station offers a discount if the customer pays in cash. Past evidence indicates that 70% of all customers pay in cash (probability of a success). If 10 customers are randomly selected, what is the probability that more than 7 and less than 10 customers pay in cash?
Select one:
a. 0.121
b. 0.354
c. 0.233
d. 0.562
In: Statistics and Probability
The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Also note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its customers.
Record on page 10 of the journal
Mar. 2 Sold merchandise on account to Equinox Co., 518,900, terms FOB destination, 1/10,n/30. The cost of the merchandise sold was $13,300.
3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,000
4 Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/eom. The cost of merchandise sold was $33,200.
5 Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $19.400.
12 Received check for amount due from Equinox Co. for sale on March 2
14 Sold merchandise to customers who used American Express cards. $13.700. The cost of merchandise sold was $8.350.
16 Sold merchandise on account to Targhee Co., 527,500, terms FOB shipping point, 1/10, 1/30. The cost of merchandise sold was $16,000.
18 Issued credit memo for $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900.
19 Sold merchandise on account to Vista Co. 58.250 terms FOB shipping point, 2/10, n/30. Added 575 to the invoice for prepaid freight. The cost of merchandise sold was $5,000
26 Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18.
28 Received check for amount due from Vista Co. for sale of March 19.
31 Received check for amount due from Empire Co for sale of March 4.
31 Pald Fleetwood Delivery Service 55,600 for delivery of merchandise in March to customers under shipping terms of FOB destination
Apr 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March.
15 Paid $6.544 to state sales tax division for taxes owed on sales.
In: Accounting
The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Also note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its customers.
Record on page 10 of the journal
Mar. 2 Sold merchandise on account to Equinox Co., $18,900, terms FOB destination, 1/10, n/30. The cost of the goods sold was $13,300.
3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of the goods sold was $7,000.
4 Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/eom. The cost of the goods sold was $33,200.
5 Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $19,400.
12 Received check for amount due from Equinox Co. for sale on March 2.
14 Sold merchandise to customers who used American Express cards, $13,700. The cost of the goods sold was $8,350.
16 Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of the goods sold was $16,000.
18 Issued credit memo for $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900.
Record on page 11 of the journal Mar.
Mar.19 Sold merchandise on account to Vista Co., $8,250, terms FOB shipping point, 2/10, n/30. Added $75 to the invoice for prepaid freight. The cost of the goods sold was $5,000.
26 Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. 28 Received check for amount due from Vista Co. for sale of March 19.
31 Received check for amount due from Empire Co. for sale of March 4.
31 Paid Fleetwood Delivery Service $5,600 for merchandise delivered during March to customers under shipping terms of FOB destination.
Apr. 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March.
15 Paid $6,544 to state sales tax division for taxes owed on sales.
In: Accounting
Medwig Corporation has a DSO of 41 days. The company averages $2,000 in sales each day (all customers take credit). What is the company's average accounts receivable? Round your answer to the nearest dollar.
In: Finance
Medwig Corporation has a DSO of 45 days. The company averages $4,500 in sales each day (all customers take credit). What is the company's average accounts receivable? Round your answer to the nearest dollar.
In: Finance
For your written assignment: Construct an E-R diagram for a car-insurance company whose customers own one or more cars each. Each car has associated with it zero to any number of recorded accidents.
In: Computer Science
UAL and Continental Airlines merged. What approvals needed to occur? Why did the merger occur? Was this a vertical merger? How successful is the merged company in 2019? What is said on line from customers about the airline?
In: Economics
If the company expands its product selection, what types of new customer categories should be considered? Will the new customer constituents resemble the existing ones? Perform a hypothetical customer profitability model analysis on the new customers.
In: Accounting
Medwig Corporation has a DSO of 34 days. The company averages $7,250 in sales each day (all customers take credit). What is the company's average accounts receivable? Round your answer to the nearest dollar.
In: Finance
Student Name and ID no. _________________________________________________________
Write the journal entries in the given table for below transactions of Clean Corporation during June 2020.
|
1 |
Provided services to customers on account for $650. |
|
2 |
Purchased a building using 10 year Note Payable for $200,000. |
|
3 |
Paid salaries to employees, $2,600. |
|
4 |
Received payment from customers to whom service was given in transaction 1 |
|
5 |
Paid $400 dividends to shareholders. |
Answer
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Accounts |
Debit |
Credit |
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1 |
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2 |
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3 |
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4 |
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5 |
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In: Accounting