Answer:
d.The Allowance for Doubtful Accounts has a normal credit balance
Explanation:
Allowance for Doubtful Accounts is a contra asset account and it normally has a credit balance which is adjusted in the debit balance of account receivables. When a write off is recorded this account is debited to record the effect in this account. Under aging method nothing is done with this account, aging method calculates the value and record it. Normally this account has credit balance but sometimes it might have a debit balance when a write off greater than the account balance is recorded.
Answer:
B. July 31
Explanation:
Revenue recognition principle assumes that revenues are recognized when they are realized or relizable and are earned, in respective of when payments are received.
It states that one should only record revenue when it has been earned, not when the related work payments is collected. Also, money paid in advance for a work should be recorded as a liability not revenue.
Since Live Wire services uses revenue recognition principles, then the day they'd record it as revenue is thesame day the job was done and completed which was July 31st.
Answer:
Arrival rate
1 every 3 minutes
1 minute = 1/3 = 0.33
60 minutes = 0.33*60 = 19.8 = 20 per hour
λ = 20 per hour
Service Rate
1 every 2 minutes
1 minutes = 1/2 = 0.5
60 minutes = 0.5*60 = 30 per hour
µ = 30 per hour
a. Utilization of Teller Machine
P = λ / µ
P = 20/30
P = 66.67%
b. Average number of customers in line
Lq = pL = (λ/µ) (λ/µ- λ)
= (20 / 30) (20 / 30 - 20)
= 20/30 * 20 / 10
= 1.33 customers
c. Average number of customers in the system
L = (λ/µ- λ)
= 20 / 30 - 20
= 20 / 10
= 2 customers
d. Average time customer spends in line
Wq = λ/[µ*(µ- λ)]
= 20 / [30 * (30-20)]
= 20 / 30 * 10
= 0.06667 hours or 4 minutes
e. Average time customers spend in the system
W = 1/(µ- λ)
= 1 / 30 - 20
= 1/10
= 0.10 hours or 6 minutes
f. Probability that there are 3 customers in the system
Pn = (1-p)*p^n
= (1 - 20/30) * (20/30)^3
= 0.3333 * 0.296296
= 0.09876
g. Probability that there are two or more customers in the system
= 1 - P(0) - P(1)
= 1 - (1 - 20/30) * (20/30)^0 - (1 - 20/30) * (20/30)^1
= 1 - 1/3 - 2/9
= 4/9
= 0.4444
Answer: external cause
Explanation:
Based on the information that's provided in the question, if Kumi gets audited this year, then he is likely to believe that the reason for the audit is due to an external cause, like the tax program that was used in the preparation of his taxes.
In such case, we can infer that the perception of Kumi is being influenced due to self-serving bias.
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