1) Hahn Company uses the percentage of sales method for recording bad debts expense. For the year‚ cash sales are $300‚000 and credit sales are $1‚200‚000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense? Debit Bad Debt Expense $12‚000‚ Credit – Allowance for Doubtful Accounts $12‚000 2) Using the percentage of receivables method for recording bad debts expense‚ estimated uncollectible accounts are $15‚000
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STATISTICS 1. If the arithmetic mean of 7‚9‚11‚13‚ x‚ 21 is 13‚find the value of x. 2. The mean of 24 numbers is 35. If 3 is added to each number‚ what will be new mean.? 3. The mean of 20 numbers is 43. If 6 is substracted from each of the numbers‚what will be new mean? 4. The mean of 15 numbers is 27. If each numbers is multiplied by 4‚what will be new mean? 5. The mean weight of 6 boys in a group is 48 kg. The individual weights of five of them are 51kg‚ 45kg‚ 49kg‚ 46kg
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a. Is it reasonable that the distribution of checking account balances approximates a normal distribution? Yes. Its reasonable because the sample size is large and and n -( increases the distribution of checking account balances approximates normal distribution. b. Determine the mean and the standard deviation for the sample of 60 customers. |Mean = |1516.667 | |Variance= |2637500 | |Std dev= |1624.038 | c. Compare the actual distribution
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2-8 (Key Question) With current technology‚ suppose a firm is producing 400 loaves of banana bread daily. Also‚ assume that the least-cost combination of resources in producing those loaves is 5 units of labor‚ 7 units of land‚ 2 units of capital‚ and 1 unit of entrepreneurial ability‚ selling at prices of $40‚ $60‚ $60‚ and $20‚ respectively. If the firm can sell these 400 units at $2 per unit‚ will it continue to produce banana bread? If this firm’s situation is typical for the other makers
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Note for current students using this exam for practice purposes: exam is formatted for LEGAL SIZE paper. CONCORDIA UNIVERSITY John Molson School of Business Department of Accountancy Course: Introduction to Financial Accounting Number: ACCO 230.2 Sections: Sections A and B (S. Mroz); Section AA (S. Tamas) Examination: FINAL (3 hours) Date: December 19‚ 2009 No. of Pages: Ten (10)‚ including this page. Ensure your copy is complete. Materials Allowed:
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B6 - The Brain and Mind - 6 Mark Question Practice A. Neurones are specialised cells transmitting nerve impulses. There are two types of neurones; Sensory cells‚ which send impulses from the receptor to the central processing centre and the motor neurones‚ transmit impulses from the brain and spinal cord to the effector cell that will respond to the stimulus. Impulses flow along thin tubes of cytoplasm. In the sensory neurones‚ the cell body is located in the middle and two tubes
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Economics 1103 080 - Principles of Macroeconomics PRACTICE Midterm Exam Part A: Multiple Choice (30 marks) Answer the following questions on the scantron sheet. 1. Which of the following goods best meets the definition of scarcity? a) air b) water in the ocean c) water in a city d) wood in a forest 2. When the government attempts to cut the economic pie into more equal slices‚ what happens? a) It is easier to cut the pie‚ and therefore the economy can produce a larger pie. b) The
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Describe the key features of the Stresemann foreign policy in the years 1923-1929 (6 marks). In 1924 Stresemann and Charles G. Dawes created the Dawes Plan. The Dawes Plan reduced annual reparation payments to an affordable amount. It was also agreed that American Banks would invest in German industry. This also improved the trust the allies had in Germany‚ as they were reassured that they would get their reparation payments. In 1925 Stresemann signed the Locarno Pact. This was a treaty between
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1. When comparing the composition of world trade in the early 20th century to the early 21st century‚ we find major compositional changes. These include a relative decline in trade in agricultural and primary-products (including raw materials). How would you explain this in terms of broad historical developments during this period? The typical composition of world production during this period experienced major changes. Focusing on today’s major industrial countries the industrial-employment composition
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Chapter 6: Master Budget and Responsibility Accounting A budget is the quantitive expression of a proposed plan of action by management for a specified period Also to aid to coordinate what needs to be done to implement that plan A financial budget quantifies managers’ expectations regarding a company’s income‚ cash flows‚ and financial position Strategy specifies how an organization matches it capabilities with the opportunities in the marketplace to accomplish its objectives Stratigic plans are
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