Answer:
a. have been recorded on the company's books but not yet by the bank
Explanation:
The deposit in transit means the deposit is recorded in the book of the company accounts but the same is not recorded in the bank books of account unless when they are not deposited.
So while preparing the bank reconciliation statement, we added the deposit in transit and deduct the outstanding checks in the bank books of accounts
Answer:
Explanation:
Bank reconciliation statement:
Cash account balance $3950
Less: Deposit in transit ($900)
Less: Bank service charges ($75)
Add: Interest added to the checking account by the bank $150
Add: Checks outstanding $960
Less: Check drawn incorrectly charged by the bank ($85) [150-65]
Adjusted balance $4,000
Answer:
the probability that exactly 30 of the 500 calculators IS 0.0495
Explanation:
Given data:
number of calculators n = 500,
percentage of defected calculators p = 0.05
From Normal approximation method;
Therefore probability is
P(X= 30) = P(29.5< X< 30.5) ( from continuous correction)
![ =P[\frac{(29.5-25)}{4.87}] < \frac{(X-mean)}{s} < \frac{(30.5-25)}{4.87} =P(0.92](https://tex.z-dn.net/?f=%0A%3DP%5B%5Cfrac%7B%2829.5-25%29%7D%7B4.87%7D%5D%20%3C%20%5Cfrac%7B%28X-mean%29%7D%7Bs%7D%20%3C%20%5Cfrac%7B%2830.5-25%29%7D%7B4.87%7D%0A%3C%2Fp%3E%3Cp%3E%0A%3DP%280.92%3CZ%3C%201.13%29%0A)
=0.0495 (from standard table of Z )
There are 650 homes.
Owners list their homes on the average, every six years.
Therefore average number of homes listed per year is
650/6 = 108.333 homes
If a sales associate lists 40% of the homes in a year, she can expect to list
40%*108.333 = 0.4*108.333 = 43.33
We cannot have fractional homes, so the sales associate lists 43 homes per year.
Answer: 43 homes
Answer:
Hire a management team with complementary industry experience.
