Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per
1 answer:
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Answer:
Check the following explanation and images attached
Explanation:
The assumptions in single-server queue theory include: -
Unlimited calling population may enter the queue
Arrivals are random and independent but average number of arrival does not change.
Single waiting line and arriving customers are patient customers who can wait in the queue before they can be served regardless of the length of the line.
Arrivals are served on FIFO basis
Service time of one customer may vary from that of another customer.
Single server and service time is as per the negative exponential probability distribution.
Average service rate is greater than average arrival rate.
Answer:
Debit interest expense and credit interest payable by $150
Explanation:
Given:
Amount borrowed = $30,000
Interest rate = 6%
Maturity = 6 months
If the company prepares monthly financial statements, then interest incurred in the month of November:
Interest expense =
= $150
Adjusting entry passed:
Date Particulars Debit($) Credit($)
30th Nov Interest expense 150
Interest payable 150
(Being interest expense
accrued)