Answer:
n = 160
p = 0.12
Explanation:
In a Binomial distribution two parameters are of great interest, n and p.
where n is the number of trials and p is the probability of success and (1 - p) is the probability of failure.
p = 12%
n = 160
Mean = E(X) = μ = n*p = 160*0.12 = 19.2
μ = 19.2
variance = σ² = np(1 - p) = 160*0.12(1 - 0.12) = 16.89
standard deviation = σ = √16.89 = 4.11
σ = 4.11
Answer:
B. Credit to sales revenue
Explanation:
As per revenue recognition principle, revenue should be recognized when it is earned and not when cash is received.
As per accrual basis of accounting, revenue is to be recognized when the ownership of the goods has been passed by the seller to the buyer and there is reasonable assurance that payment would be received.
When a sale is effected and goods are delivered with reasonable certainty that payment would be received, following journal entry is recorded:
Accounts Receivable A/C Dr.
To Sales Revenue
(Being equipment sold recorded)
Answer:
$475,000
Explanation:
The amount should be reported as unearned service contract revenues in Ryan's December 31, Year 1, and balance sheet will be the amount that has not expired in year 1 or outstanding service contracts that will expire in year 2 to year 4. Therefore,
Year 2 + Year 3 + Year 4 = $150,000 + 225,000 + 100,000 = $475,000 should be reported as unearned service contract revenues.
Answer:
$1,275,000
Explanation:
The computation of the contribution margin is shown below:
As we know that
Contribution margin = Sales - variable cost
or
Selling price per unit - variable cost per unit
And, the direct material per unit, direct labor per unit, and the Variable overhead per unit are variable cost
So, if 50,000 units are sold, the contribution margin per unit is
= 50,000 × ($33 - $1.50 - $2.50 - $3.50)
= $1,275,000
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Kern Company deposited $1,000 in the bank on January 1, 2017, earning 8% interest. Kern Company withdraws the deposit plus accumulated interest on January 1, 2019.
We need to use the following formula:
FV= PV*(1+i)^n
A) i= 0.08 n=2
FV= 1000*(1.08^2)= $1,166.4
B) i= 0.08/2= 0.04 n= 4
FV= 1,000*(1.04^4)= $1,169.86
C) i= 0.02 n= 8
FV= 1,000*(1.02^8)= $1,171.66
