Suppose the mean height in inches of all 9th grade students at one high school is
estimated. The population standard deviation is 3 inches. The heights of 10
randomly selected students are 74, 68, 74, 73, 70, 61, 75, 61, 73 and 75.

Answers

Answer 1

61+61+68+70+73+73+74+74+75+75

÷10

=704÷10

=70.4

Explanation:

all data points are divided by the number of data points


Related Questions

do you think the action of taking the property is fair? Why or why not?

Answers

Depending on the purpose, the action of taking property by a government is fair, in that the government can legally take land privately for public purposes, provided that this taking of property is properly compensated to the owner of the property.

What is the right to property?

It is the 17th article of the Constitution, which stipulates that every citizen has the right to property, which must not be arbitrarily withdrawn or deprived of it.

The taking of government property is generally carried out for public purposes, being intended for the benefit of society, such as for transformation into schools and hospitals for example.

Therefore, the action of taking a property is fair and constitutional, but the owner of the property must be financially rewarded for it to become legal.

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what do multinational corporations need to balance when making decisions about social responisbilities?

Answers

Answer:

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FBLA-PBL state chapters usually have a number of elected__________ who
represent the state's various regions.
A. Vice Presidents
B. Secretaries
C. Treasurers
D. Presidents

Answers

FBLA-PBL state chapters usually have a number of elected, treasurers to represent the state's various regions. Thus, option C is correct.

What is FBLA-PBL?

The goal of FBLA is to give high school students in business and/or company subjects more opportunities to build professional and career-supporting competencies and to encourage social and individual accountability as a vital component of the academic curriculum.

In a meeting of the National Leadership Conference, a state chapter shall submit a nomination for treasurer. At its multiple local gatherings at the National Leadership Conference, a state chapter shall propose the national vice presidents who will address the regions. Therefore, option C is the correct option.

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Answer:

A. Vice Presidents

Hope this helps :)

Frederick taylor’s work in management was instrumental in using engineering principles to

Answers

Fredrick Taylor's work in management was instrumental in using engineering principles to the work performed on the factory floor. This way he established a discipline called Industrial Engineering.

Taylor was a mechanical engineer who wanted to improve efficiency in the industry. He is considered as the father of Scientific Management. Taylor supported giving management more power over the workforce. He set out to make a stronger separation between manual labor and mental(planning) labor (executing work). Management was required to create and provide to the workforce detailed plans that outlined the task and how it was to be completed.

Nevertheless, his system's implementation was frequently despised by the workforce, which led to repeated strikes.

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when parents share their concerns and questions about observation and screening results , listen actively and think before responding .
true or false

Answers

True. You should always listen and think before responding to a situation like this.

When parents share their concerns and questions about observation and screening results , listen actively and think before responding.

Thus, the correct option is True.

What do you mean by observation?

An interdisciplinary field of study known as observational psychology is typically categorized as learning psychology.

In order to understand how people learn, what it means to learn a behavior, and how this understanding of learning might be applied in a preventive or therapeutic context, the psychology of learning is a specific area of psychological study.

According to observational psychology in particular, learning is a direct result of observation.

Similar to behaviorism, it rejects an underlying or instinctual foundation for (most) human behaviors and asserts that instead, the behaviors we acquire and display are a result of a complex interaction between the behaviors we observe in others and the culture in which we are raised.

Because of its heavy emphasis on early learning, observational psychology also has some relevance to developmental psychology, which is why it is referred to be a "interdisciplinary" system.

When observational psychology is referred to as an interdisciplinary field, it implies that the field's theoretical underpinnings are still somewhat in flux.

Observational psychologists' conclusions have received substantial institutional support when considered separately, but they have not yet been codified.

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P owns a $25,000 life policy that pays the face amount to him if he lives to age 70, or to his beneficiary if he dies before age 70. what kind of policy does p own?

Answers

The kind of policy that p owns is D) Endowment at Age 70.

The 4 types of regulations include Public policy, Organizational policy, practical policy, and particular policy. Coverage refers to a direction of motion proposed through an agency or man or woman.

A coverage set up and finished by using the authorities is going thru numerous degrees from inception to end. these are timetable construction, formula, adoption, implementation, evaluation, and termination. Before a policy may be created, trouble should exist that is known to the attention of the authorities.

Organizational Policies, These refer to the overall policies of the organization:

Functional Policies Originated Policies. Appealed Policies. Imposed Policies. General Policies. Specific Policies. Implied Policy.

Disclaimer: The question is incomplete. Please read below to find the missing content.

Question:P owns a $25,000 Life Policy that pays the face amount to him if he lives to age 70, or to his beneficiary if he dies before age 70. What kind of policy does P own?

A)Straight Life

B)Modified Life

C)Whole Life Paid-Up at Age 70

D)Endowment at Age 70

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The TBSI Core Team must include the following:
O A. An administrator or designee
OB. Any general or special education personnel likely to use restraint
OC. A Licensed Specialist in School Psychology
K Both A and B
O All of the above

Answers

The TBSI Core Team must include the following-

An administrator or designeeAny general or special education personnel likely to use restraintThus option K is correct.

What is a Team?

When a group of people comes together to achieve the common objective in the organization by performing individual tasks to achieve the desired results teams are formed.

The TBSI core team referred to as Texas Behavior Support Initiative works to teach students with special needs and all children the fundamental necessary information to implement positive behavior strategies and treatments.

This TBI team must include An administrator or designee who is generally known as a Principal as well as  Any general or special education personnel likely to use restraint who helps to teach students.

Therefore, option K both A and B are appropriate.

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explain other roles of quality circle as part of continuous improvement to process and systems​

Answers

The quality circle are essential to the part of continuous improvement to process and systems​ because they examine products, processes or procedures with the objective of making recommendations for improvement to management.

What is a quality circle?

This refers to the small group of employees that volunteers to meet regularly to undertake work related projects such as on work quality, productivity, safety, efficiency, cost, working conditions etc.

On other word, they are team of volunteer production employees and their supervisors who meet regularly to solve quality problems.

In a continuous improvement to process and systems​, these quality circle are essential because when they meets, they examine products, processes or procedures with the objective of making recommendations for improvement to management.

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Define the "Social Entrepreneurs" and state some examples of "Social Enterprise Obligations" that are important to you and why.

Answers

Social entrepreneurs is the term that is used to refer to the persons that have businesses that would serve them certain social objectives.

Who is an entrepreneur?

This is the term that is used to refer to the person that is a business owner. The entrepreneur is one that is able to open a business and follow up with its establishment for the sake of making profits and other forms of gains.

The social enterprise obligations that are important are fund raising activities, child rights and other forms of rights in the society. some others would be the empowerments for women in the society and other forms of environmental goals.

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Which of the following is the single largest federal expenditure? *
1.national defense
2.Social Security
O interest
O Medicare

Answers

Answer:

it is B

Explanation:

I Known because I searched it up

Empirical findings on gender differences in negotiations may reinforce which of the following actions?

Answers

Gender differences in negotiations reinforce the following actions: women behave more cooperatively, men get higher outcomes and differences are small and situational influences loom larger.

More about negotiations:

The study of gender in negotiation had minimal bearing on the study of gender in organisations, despite the fact that negotiation is a process that increases, maintains, and decreases gender difference in organisations.

Since the 1990s, when feminist theory was first applied to negotiation, gender inequalities have sparked new research interests in the study of bargaining.

Kolb and Putnam (1997) assert that negotiation is a gendered activity, however Gray (1994) believes that negotiation is more centred on autonomous people who pursue instrumental goals.

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Prophet Co. signed a long-term purchase contract to buy timber from the U.S. Forest Service at $300 per thousand board feet. Under these terms, Prophet must cut and pay $6,000,000 for this timber during the next year. Currently, the market value is $250 per thousand board feet. At this rate, the market price is $5,000,000. Jerry Herman, the controller, wants to recognize the loss in value on the year-end financial statements, but the financial vice president, Billie Hands, argues that the loss is temporary and should be ignored. Herman notes that market value has remained near $250 for many months, and he sees no sign of significant change. INSTRUCTIONS What are the ethical issues, if any? Is any particular stakeholder harmed by the financial vice president's decision? What should the controller do?

Answers

The ethical issue is that the financial vice president fraudulently agreed to pay $6,000,000 rather than the market price of $5,0000,000.

What are the ethical issues?

From the information given, the financial vice president fraudulently agreed to pay $6 million instead of the market price of $5 million for the timber.

This is unethical due to the fact that the financial manager may collude with the seller to rip off the company the extra $1 million.

b. Is any particular stakeholder harmed by the financial vice president's decision

The vice president’s financial decision affects the shareholders of the company.

This is because the vice president is reducing the profitability of the company and low profitability means low retained earnings.

The shareholders will be affected in terms of the reduced dividends earned due to the reduced retained earnings.

c) What the controller should do

The controller should then use professional due diligence and integrity on order to ensure transparency in the dealings.

He should therefore ensure that the company does not pay the $6 million that the financial president agreed to pay.

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Why is the stock price of a company an indication of the performance of that company's senior managers?

Answers

Answer:

In general, people want to invest in a well-managed corporation, which will drive up the price of shares.

The stock price of a company is often considered an indication of the performance of that company's senior managers for several reasons:

Market Perception: The stock price reflects the collective perception of investors and the market about the company's current and future prospects.

If investors have confidence in the company's management and believe that they are making sound strategic decisions, it can lead to an increase in the stock price.

Financial Performance: The stock price is influenced by the company's financial performance. Senior managers are responsible for making key decisions that impact the company's revenue, profitability, and growth.

A well-performing company is more likely to have a higher stock price, indicating effective management practices

However, it is important to note that the stock price is just one metric to evaluate the performance of senior managers.

Other financial and non-financial metrics, such as revenue growth, profit margins, employee satisfaction, customer retention, and innovation, also play a crucial role in assessing management performance comprehensively.

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What are Convention hotels? Give an example

Answers

What are convention hotels?

Convention hotels host large meetings similar to conferences. Social conventions restrict what we can do; they dictate how we should behave. Conventionalism is the result of being conventional, something held up as a normative example; "the convention of not naming the main character"; "violence is the rule, not the exception".

Hotel conventions are large formal assemblies, "political conventions", and international agreements (diplomacy).

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The additional components of the marketing mix for marketing a service does not include which of the following?
O people
O process
O popularity
O physical environment

Answers

Answer:

Popularity is the odd one out. The additional elements for services in the marketing mix are:

People, Process, Physical Environment,Price, Distribution, Advertising,Promotion, Market Research, Price,Social Media, PR, Placement

Using Apple as the company, how can this organization benefit from the four business intelligence capabilities? Identify the specific benefits, and how the four capabilities contribute to them.

Explain how business intelligence would improve their Customer Service function.

Explain the technologies that facilitate organizational memory capabilities.

Answers

The four capabilities of a business intelligence can be divided into:

data presentationdata analysisdata ingestiondata foundation.

What is a business intelligence?

This refers to the technology that allows analyzing of data and delivering of  actionable information that can helps executives, managers and workers make informed business decisions.

The system of business intelligence is vital for business because it allows them to have an insight into what their competitors are doing and  to allows informed & educated decisions for plans.

The business intelligence would improve Apple's Customer Service function because it helps to gain better understanding of customers. For instance, it help to predict the future buying behavior of a customer.

In conclusion, the system thus increases the overall customer satisfaction by improving interactions with your customers and understanding their needs.

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Lamborghini is a classic example of Question 2 options: selective distribution exclusive distribution intensive distribution indirect distribution

Answers

Lamborghini is a classic example of exclusive distribution.

Selective distribution is a method of product distribution where more than one distributor is present in a given area. Brands of televisions, furniture, and home appliances frequently use it.

Exclusive distribution, on the other hand, describes a distribution strategy that only uses one distributor, retailer, or wholesaler in a particular region. Designer clothing, cars, and even home appliances frequently go through exclusive distribution.

A corporation may use an intensive distribution marketing plan to try to sell its goods from a small vendor to a large retailer. A customer will almost always be able to find the merchandise wherever he travels.

The sale and transfer of a product from a producer to a wholesaler, retailer, and ultimately to the customer is known as indirect distribution.

Hence, Lamborghini is a classic example of exclusive distribution.

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“Wonderful! Not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said Kim Clark, president of Martell Company. “Our $18,300 overall manufacturing cost variance is only 1.2% of the $1,536,000 standard cost of products made during the year. That’s well within the 3% parameter set by management for acceptable variances. It looks like everyone will be in line for a bonus this year.” The company produces and sells a single product. The standard cost card for the product follows: Standard Cost Card—per Unit of Product Direct materials, 2 feet at $8.45 per foot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $16.90 Direct labor, 1.4 direct labor hours at $16 per direct labor-hour … . . . . . . . . .. . . . . . . 22.40 Variable overhead, 1.4 direct labor-hours at $2.50 per direct labor-hour ….. . . . . . . . . . 3.50 Fixed overhead, 1.4 direct labor-hours at $6 per direct labor-hour . . . . . . . ….. . . . . . . . 8.40 Standard cost per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $51.20 The following additional information is available for the year just completed: a. The company manufactured 30,000 units of product during the year. b. A total of 64,000 feet of material was purchased during the year at a cost of $8.55 per foot. All of this material was used to manufacture the 30,000 units. There were no beginning or ending inventories for the year. c. The company worked 43,500 direct labor-hours during the year at a direct labor cost of $15.80 per hour. d. Overhead is applied to products on the basis of standard direct labor-hours. Data relating to manufacturing overhead costs follow: Denominator activity level (direct labor-hours) . . . . . . . .... . . . . . . . . . . . . . . . . . . . . . 35,000 Budgeted fixed overhead costs (from the overhead flexible budget) . . . . . . . . . . . . $210,000 Actual variable overhead costs incurred . . . .

Answers

Standard costing is an effective tool for management to control costs, plan its budgets and take timely decisions. This enables management to establish standardized costs from a global perspective. However, this system requires a large amount of data and int the involvement of all the department managers of the company.

Tools It is very important for the effective use of standard costing tools that all the managers involved in using the standard costing system. This tool requires a lot of information from the various department managers who work at the various cost centers. This information is again relayed to the same managers. They are expected to use this information in taking departmental decisions and reduce the variance between actual and standards.

A thof standard between, however, this information regarding costs and revenue is too detailed and is understood by the accountants, management, and, departmental managers. It is also pertinent to note that in recent times there have been lots of changes in the macroeconomics like political changes, environmental changes, etc. which has caused lots of deviations from standards. Because of this a lot of time and resource is utilized for knowing the differences between the standard cost and actual costs.

Material Variances - The difference between the budgeted/standard material cost for a product and the actual material costs after production. Material variances are calculated for acknowledging the effect of changes in quantity consumed and changes in the price of the raw materials price.

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P = 100 - 2Q, where Q is total quantity demanded for both firms 1 and 2, respectively. The firms 1' marginal cost is given by MCi(Qi) = 2Qi. The firms 2' marginal cost is given by MC2(Q2)=4Q2. Based on this information firm 1 and 2's reaction functions are

Answers

The reaction functions of the equations that we have here are given as Q1 = 16.7 - 0.33Q₂ and Q₂ = 12.5 - 0.25Q₁

How to solve for the reaction functions

We have

P = 100 - 2Q

= 100 - 2Q1 - 2Q2

MCi(Qi) = 2Qi

while,

MC2(Q2)=4Q2

δπ₁/δQ₁ = 100Q₁ - 2Q₁² - 2Q₁Q₂ - Q₁²

= 100 - 4Q₁ - 2Q₂ - 2Q₁

= 100 - 6Q₁ - 2Q₂

6Q₁ = 100 - 2Q₂

divide through by 6

Q₁ = 16.7 - 0.33Q₂ ⁻⁻⁻⁻⁻⁻⁻ This is the reactant function for Q₁

δπ₂/δQ₂ = 100Q₂ - 2Q₁Q₂ - 2Q₂² - 2Q₂²

= 100 - 2Q - 4Q₂ - 4Q₂

= 100 - 2Q - 8Q₂

8Q₂ = 100 - 2Q₁

divide through by 8

Q₂ = 12.5 - 0.25Q₁ --------- This is the reactant function for Q2

Hence the reactant functions for these two equations are given as

Q₁ = 16.7 - 0.33Q₂ and Q₂ = 12.5 - 0.25Q₁

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“At Toyota, we get brilliant results from average people managing brilliant processes. Others get average results from brilliant people managing broken processes” (The Toyota Motor Company). In order to achieve your quality, cost, delivery, and safety goals, you must proactively strive to continuously improve your business operations. What specific strategies will you implement to create brilliant processes? How will you teach employees to eliminate waste? How will you get their buy-in? How will you measure progress as you improve your business processes?

Answers

When done well, Car business processes can be a significantly lucrative operation, with huge scaling opportunities and the potential to expand to new locations.

Automakers and dealers promote their vehicles online. The alternatives are reducing consumer interest, adherence, and auto dealership revenue. Buyers review offers before moving on to the following page. Make it so that buyers "swipe right" on your vehicles to discover the ideal match.

The biggest publicity and marketing resources are devoted to new autos. However, it's challenging to have an impact on the new automobile industry's profitability. That division is largely under the hands of manufacturers and importers. Take charge of the situations you can affect.

Ensure the new automobile buyer has a transparent and reliable appraisal experience. Show them the benefits of accepting your offer. Make them feel secure in your offer on both a new and used car.

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Which of the following would not be considered as an example of industrialization
a. Replacement of human with mechanical skills
b . Improved economic organization
c . Improved extraction and working of raw materials
d. Increase in literacy​

Answers

Hello there! An increase in literacy would not be considered an example of industrialization.

What is industrialization?

Industrialization is the local or global development of industrial activity. Replacement of human with mechanical skills would be an example of industrialization because in an industry, most of the labor is performed by automated machines rather than enforcing physicality. Think of it this way: during times where involuntary servitude was permitted, the North was industrial while the South required slaves. Improved economic organization would be an example of industrialization because through industry, economies are more efficient, accurate, and high-quality, while with physical labor, things are produced with less quality and efficiency. Improved extraction and working of raw materials is an example of industrialization because with industry, things like mass production and interchangeable parts can be used to increase how the economy thrives and survives.

Your final answer: An increase in literacy would not be an example of industrialization. If you need any extra help, let me know and I will gladly assist you.

Amazon is the dominant firm in the online shopping service industry, which has a total market demand given by Q = 100 – 2 P. Amazon has competition from a fringe of four small firms that produce where their individual marginal costs equal the market price. The fringe firms each have total costs given by TCi = 10 Qi + Q i 2. If Amazon’s total costs are given by TCA = 10 + 10 QA, , how much does the industry as a whole produce at this price?

Answers

The price that Amazon has to establish for their online shopping should be $20.

The Excel financial functions section includes the Price Function. It will determine the cost of a bond with a $100 face value that accrues interest on a recurring basis. The PRICE function in financial analysis can be helpful when we want to borrow money by selling bonds rather than stocks.

We have the price function as

P = 10 + 2Qi

Make Qi subject

= Qi = 0.5P - 5

4 firms with identical features

This would give us  

Qs = 4Qi

Qs = 4(0.5P -5)

Qs = 2p - 20

Q = 100 - 2p

Qa = Q - Qs

(100 - 2P) - (2P -20)

Take like terms

100 - 2p - 2p + 20

100 - 4p + 20

Qa = 120 - 4p

Make p subject

p = 120 - Qa / 4

p = 30 - 0.25Qa

TRa = p*Qa

= (30 - 0.25Qa)Qa

= 30Qa - 0.25Qa²

MRa

=  30 - 0.5Qa

TCA = 10 + 10QA

=  ΔTCA / ΔQA

= 10

30 - 0.5QA = 10

Take like terms

30 - 10 = 0.5Qa

divide through by 0.5

20/0.5 = Qa

40 = Qa

Output produced =  40.

We have P as

30 - 0.25QA

P = 30 - 0.25( *40)

= 20

Hence the price that Amazon has to establish for online shopping should be $20

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What other pervasive institutional consideration may influence pay inequality

Answers

The other pervasive institutional consideration which may influence pay inequality include: technological advancement, globalization, wage-setting institutional changes. In a persuasive speech, the discourse will focus on the reasons for supporting your specific purpose statement. Read below about persuasive institutional consideration strategies.

What are persuasive strategies?

The persuasive strategies are logos, ethos and pathos. The peak effective persuasive communication usually has a mix of all three strategies. Logos uses logic or reason to reach a conclusion, while ethos depends upon the credibility of the author or speaker.

Therefore, the correct answer is as given above

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1) Do goods that have secondary packaging influence your purchasing decisions? Why/why not? ​

Answers

Yes the goods that have secondary packaging are able to influence the purchasing decision of a person.

How does packaging influence consumer buying?

The packaging of a product is one of the ways of creating good impression of a product to the would be consumer. The aesthetics of packaging  would leave a positive impression on the person affecting their willingness to go for the product..

what is Secondary packaging?

This refers to the cover of a product. most times this is what we see when we are about buying a product. it is usually colorful and appealing.

When a particular good is well packaged in a good way, some consumers would want to equate its quality packaging to the fact that the good would be one of value. Packaging are intended to be appealing and this will appease the minds of consumers. The consumer end up making the decision of getting goods or products with better secondary packaging.

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All choices can have unintended consequences. When those outcomes affect someone who had no part in the initial choice, what is it called?
O Free market
O Free resource
O Eminent domain
O Externality

Answers

Answer: Externality

Explanation: I got that right

Based on comparable trading metrics, what is the implied enterprise value if the median P/E ratio is used as the basis for valuation? Review Later $315,618 $305,618 $295,618 $325,618

Answers

The comparable trading metrics show that the implied enterprise value if the median P/E ratio is used for valuation is $315,618.

How can the implied enterprise value be found?

First, the value of equity needs to be found. Based on the market capitalizations, and the earnings, the P/E ratios for the companies are:

Company A = 22.77Company B = 22.05Company C = 16.65Company D = 32.54Company E = 23.51

Using the median P/E ratio requires that we arrange the values:

= 16.65, 22.05, 22.77, 23.51, 32.54

The median P/E is 22.77.

The value of Equity is:

= Earnings x Median P/E

= 13,423 x 22.77

= $305,618

The enterprise value is:

= Market value of debt + Market value of equity - Balance in cash account

= 20,000 + 305,618 - 10,000

= $315,618

In conclusion, the implied enterprise value is $315,618

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Where can you find information about the cost of goods sold as well as total
sales?
A. general ledger
B. worksheet
C. balance sheet
D. adjusted trial balance

Answers

The adjusted trial balance represents the cost of goods sold as well as total sales. Thus, option D is correct.

What is the cost of goods sold?

Cost of goods means the direct cost that is included in the making of the goods. The cost of goods is calculated by adding the purchase price of the commodity and deducting the closing inventory.

A report known as an adjusted trial balance lists all the debit and credit firm accounts exactly as they would appear on the accounting records after reconciliations have been made. Therefore, option D is the correct option.

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Answer:

B. Worksheet

Explanation:

trust

Explain the concepts of start-up capital and working capital in a business context​

Answers

Startup capital exists that entrepreneurs utilize to pay for any or all of the needed expenses involved in starting a new business. Working capital stands as a financial metric that describes operating liquidity available to a company, organization, or other entity, including governmental entities.

What is start-up capital and working capital?

Startup capital exists that entrepreneurs utilize to pay for any or all of the needed expenses involved in starting a new business. This contains paying for the initial hires, acquiring office space, permits, licenses, inventory, investigation and market testing, product manufacturing, marketing, or any other operational expenditure.

Working capital stands as a financial metric that describes operating liquidity available to a company, organization, or other entity, including governmental entities. Along with fixed assets such as plants and equipment, working capital exists regarded as a portion of operating capital.

Working capital exists estimated by subtracting current liabilities from current assets, as recorded on the company's balance sheet. Current assets contain cash, accounts receivable, and inventory. Current liabilities contain accounts payable, taxes, wages, and interest owed.

Working capital exists as the difference between a company's current assets and current liabilities. Working capital stands accustomed to purchasing inventory, paying the short-term debt, and day-to-day operating expenses. Working capital stands critical since it's required to maintain a business operating smoothly.

Startup capital stands for the money used to create a business. It protects the expenses essential for getting a new company up and running, such as: Renting or leasing space and Provisioning the office.

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A trial balance before adjustment included the following:

Debit

Accounts receivable $180,000

Allowance for doubtful accounts 3,500
Sales returns and allowances 540,000

Credit

Sales $540,000

Prepare journal entries assuming that the estimate of uncollectible is:

a. 4% of accounts receivable

b. 2% of net sales

Answers

The preparation of the journal entries assuming that the estimate of uncollectible accounts is as follows:

Journal Entries:

a. 4% of accounts receivable

Debit Bad Debts Expense $31,300

Credit Allowance for Doubtful Accounts $31,300

To record the bad debts expense for the period.

b. 2% of net sales

Debit Bad Debts Expense $13,800

Credit Allowance for Doubtful Accounts $13,800

To record the bad debts expense for the period.

Data and Calculations:

                                                      Debit         Credit

Accounts receivable                $180,000

Allowance for doubtful accounts  3,500

Sales returns and allowances    25,000

Credit Sales                                                $540,000

Net sales = $515,000 ($540,000 - $25,000)

Adjustment Analysis:

a. 4% of accounts receivable

Ending balance of Allowance for doubtful accounts = $27,800 {($180,000 - $25,000 + $540,000) x 4%}

Bad Debts Expense = $31,300 ($3,500 + $27,800)

Bad Debts Expense $31,300 Allowance for Doubtful Accounts $31,300

b. 2% of net sales

Ending balance of Allowance for doubtful accounts = $10,300 ($515,000 x 2%)

Bad Debts Expense = $13,800 ($3,500 + $10,300)

Bad Debts Expense $13,800 Allowance for Doubtful Accounts $13,800

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In a market system, how does society decide what goods and services will be produced?

Answers

Answer:

the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand.

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