Evaluating back charges

Assignment Help Accounting Basics
Reference no: EM13137229

An engineering firm is evaluating their back charges, and from this they claim that their average back charge is $1800. They randomly select 42 customers, and calculate the sample mean back charge to be $2010. If the standard deviation of back charges is $650, and alpha = 0.05, test the claim of the engineering firm. Perform an appropriate hypothesis test, showing the necessary calculations and/or explaining the process used to obtain the results.

Reference no: EM13137229

Questions Cloud

What effect will recording the estimate of uncollectible : Shupe Inc. estimates uncollectible accounts based on the percentage of account receivable. What effect will recording the estimate of uncollectible accounts have on the accounting equation?
Compute the equilibrium under the assumption : Compute the equilibrium under the assumption that Arrow-Debreu securities are traded in time 0 after the realization s0 = H.
Prepare general journal entry to record the first lease : The lease is considered to be an operating lease. Prepare the general journal entry to record the first lease payment on December 31, 2009.
Average family income at school is significantly different : Can the president conclude that the average family income at his school is significantly different than the population mean family income of the reported university?
Evaluating back charges : An engineering firm is evaluating their back charges, and from this they claim that their average back charge is $1800. They randomly select 42 customers, and calculate the sample mean back charge to be $2010.
Discuss why learning about interviews is important? : Discuss why learing about interviews is important? Explain the differnce between open open and closed questions. provide three of your own examples of each type of question?
What should be the carrying value of montana inventory : "Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?
Adam hired a part time person : Discussion (This is where you will address the Case Questions, using your own words in a discussion style, but supported by your references. Use suitable headings and sub-headings.
Prepare journal entries to record the transactions : Prepare journal entries to record the transactions. Prepare the current liabilities section of the balance sheet as it would appear at the end of the year.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Allocate the costs and advise

Please allocate the costs and advise, what is the taxable income for year 1 and 2, noting there are no other expenses outside the allocation of costs.

  Define the number of shares outstanding

Smelling Company declared a 2-for-1 stock split on its common stock in order to intentionally reduce the market value of its stock so that it would be an attractive investment for a larger set of investors.

  Preparation of a work sheet, financial statements

All adjustments affect one balance sheet account and on income statement account. For each of these situations,  Preparation of a Work Sheet, Financial Statements, and Adjusting and Closing Entries.

  What is the income reported by regal

What is the income reported by Regal during 2012 pertaining to the Air investment?

  Calculate sampling interval and sample size

The auditors wish to test the valuation of accounts receivable in the audit of Seaside Enterprises. The client has $5,000,000 of total recorded receivables, composed of 2500 accounts.

  Calculate the restated cash dividend per share

Calculate the restated cash dividend per share for 2009 reported in the 2011 annual report for comparative purposes. Round your answer to two decimal places.

  Proprietorships and partnerships

Critique the benefits and drawbacks of proprietorships and partnerships as a form of business organization.

  Calculate the cost per unit of cost driver for each cost

Pumpkin Bags (PB) is a desiger of high quality backpacks and purses. Each design is made in small batches. Each spring, PB comes out with new designs for the backpack and for the purse.

  Target corporation-liquidity and efficiency

Examine Target for the years 2004-2006 and compare to Walmart. Comment on the relative liquidity and efficiency these firms. How does Target compare to Walmart? Would you invest in this company?

  Performance measures and transfer pricing

Explain the advantages and disadvantages of each set of performance measures. How do they must design the organizational architecture to control the agency problems?

  Balance sheet accounts of wickham corporation

The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.

  Difference between actual and planned results

Policies regarding when a difference between actual and planned results should be investigated are generally more restrictive for non controllable items than for controllable items.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd