Answer:
The equivalent units of of materials in September = 62,400 units
Explanation:
<em>Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work</em>
Equivalent Units = Degree of work completed (%) × inventory units
Items units workings Equivalent units
Completed unit 58,500 58,500× 100% = 58,500
Closing WIP 6,500 6,500 × 3/5 = <u>3,900</u>
Total equivalent units of materials <u>62,400.</u>
The equivalent units of of materials in September = 62,400 units
The calculated value of the Z statistic to test the potential buyer's belief at the 1% significant level is -2.57512627.
The calculated Z score is slightly greater than the critical value of -2.575, the potential buyer's view that weekly store revenues are less than $7,000 stands vindicated.
Since store revenues are assumed to be normally distributed and population standard deviation is given, we can use the Z-test. The relevant test statistic is the Z-score.
We use the following formula for calculating the Z score:
Z = (X - μ) / (σ /√n)
Substituting the relevant values we get,
Z = (6400 -7000) / (1042/√20)
Z = -600 / 232.9982833
Z = -2.57512627
Answe and Explanation:
For banks and other financial institutions, the discrepancy between the short-term maturities of their deposits and the long-term maturities of their assets is referred to as _a maturity mismatch___________.
Answer:
Date Particulars Debit Credit
Inventory 40,000
Accounts Payable - Gita 30,000
Bank 10,000
Accounts Receivable - Jeewan 7,000
Sales 7,000
Cost of Goods sold 10,000
Inventory 10,000
Accounts Payable - Gita 15,000
Discount Received 1,000
Cash 14,000
Cash 6,500
Discount Received 500
Accounts Receivable - Jeewan 7,000
Explanation:
It is required to record journal entries of given transactions. It is shown on the question that transactions includes purchase, sales, cash receipts and cash payment. The first transaction describe that business purchase goods from Gita while in second transaction it shows the business sold goods on Credit. The third transaction indicates business paid cash to accounts payable and received discount. The fourth transaction indicates that business received cash from Jeewan a Receivable and received discount from them.
