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Problem
Suppose that the average annual revenue of a small business is $140,000 with a standard deviation of $30,000. Assume that the revenue distribution is normal.
What is the probability that one business selected at random makes less than $120,000?
What is the probability that the average annual revenue of a random sample of 4 businesses is less than $120,000?
Why are your answers to the previous two questions different?
Prepare an analysis of the variances for materials and labour for the year. Prepare an analysis of the variances for variable and fixed overhead for the year
Crow's cost of moving and installing the machinery totaled $4,800. The following data are available:
Prepare Garfield's journal entries for (a) the purchase of the investment and (b) the receipt of annual interest and discount amortization. Assume effective interest amortization is used.
On May 31, 2014, Reber Company had a cash balance per books of $7,167.50. The bank statement from New York State Bank on that date showed a balance of $6,790.60. A comparison of the statement with the cash account revealed the following facts. Prepar..
Calculate Current Ratio, Inventory Turnover Ratio, Gross Margin, Net Profit Margin and Return on Equity. Comment on your results. How significant is the change?
They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..
On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000.
The following components are computed annually when a bond is issued for other than its face value:
What is mental accounting and how does it impact consumer decision making? How might a company take advantage of consumers' mental accounting? Give examples.
What are some dangers associated with like kind exchanges? (We are asking what types of things can go wrong to invalidate a proposed like kind exchange.)
What are the economic issues that drive the increased demand for assurance services? What is one assurance engagement and one attestation engagement other than an audit of financial statements? What are the differences between the two engagements?
What would deferred revenue be as of the end of Year 3?
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