Answer:
Kindly check explanation
Explanation:
Given that :
Initial wealth = $1000
Cost of lottery = $5
Winning = $500
Number of players or tickets = 100
Only one winner can emerge :
P(winning) = 1/100
P(Not winning) = 1 - 1/100 = 99/100
P __ 1/100 _________ 99/100
X : [1000 + (500-5)] ___ (1000-5)
P(X): ____1/100 _______ 99/100
X : _____ 1495 _________995
Expected value E(x) :
E(X) = ΣX*p(x) = (1/100)*1495 + (99/100)*995 = 1000
C.)
Possible winning = $500 ; p(x) = 1/100
Possible loss = - 5 ;p(x) = 99/100
500 * (1/100) = 5
-5 * (99/100) = - 4.95
Σ(5 + - 4.95) = 5 - 4.95 = 0.05
Hence, gamble is favorable since 0.05 > 0
Answer:
January 1, 202x, bank loan obtained from Taylor Bank (9 months, 9% interest rate)
Dr Cash 117,933
Cr Notes payable 117,933
Explanation:
Since this is an interest bearing note that will be paid in less than a year, we should record it at face value. All current liabilities must be recorded at face value.
Answer:
$24,000
Explanation:
Since in the question it is given that the 3% of credit sales is considered to be a bad debt expense
where,
Credit sales is $800,000
And, the estimated percentage is 3%
So by considering this above information, the amount debited to bad debt expense is
= $800,000 × 3%
= $24,000
All the other information i.e to be given is not relevant. Hence, ignored it
Answer:
Explanation:
The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
