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SCORPION-xisa [38]
4 years ago
14

Customers arrive at Rent a Wreck and hope to score an inexpensive and unsightly vehicle to use for what typically is a short per

iod of time. About twenty customers show up in any hour of the day and it takes the customer service representative about two minutes to photocopy their driver's license and insurance card and take an impression of a credit card. Assume that the service and arrival rates are governed by the Poisson distribution; how long does it take for the average customer to clear the system?
A) 10 minutes.B) 6 minutes.C) 3.33 minutes.D) 3 minutes.
Business
1 answer:
levacccp [35]4 years ago
4 0

Answer: B- 6 minutes

Explanation: From the question above, In one hour, about 20 customers shows up at Rent a Wreck.

It takes 2 minutes to photocopy their driver's license and insurance card and take an impression of a credit card

therefore 20/2=10

in one hour which is 60 min = 60/10

=6 minutes

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If an investment is considered “volatile”, it means...
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If an investment is considered “volatile”, it means the value of the investment may be hard to predict.

Further Explanation:

Volatile:

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Investment volatility:  

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Answer:

Required 1 : General journal entries

A.

Cash $100,750 (debit)

Capital ; K. Spade $100,750 (credit)

B.

Office Equipment  $10,050 (debit)

Trade Payable  $10,050 (credit)

C.

Trade Payable  $10,050 (debit)

Cash $10,050 (credit)

D.

Trade Receivable $2,700 (debit)

Fees Earned $2,700 (credit)

E.

Rent Expense $1,225 (debit)

Cash $1,225 (credit)

F.

Cash $1,125 (debit)

Trade Receivable $1,125 (credit)

Required 2 : Posting Journal Entries to T - Accounts

Cash Account

<u>Debit</u>

Capital ; K. Spade   $100,750

Trade Receivable         $1,125

Totals                        $101,875

<u>Credit</u>

Trade Payable          $10,050

Rent Expense              $1,225

Balance c/d             $90,600

Totals                        $101,875

Capital Account

<u>Debit</u>

Balance c/d        $100,750

Totals                  $100,750

<u>Credit</u>

Cash                    $100,750

Totals                  $100,750  

Office Equipment Account

<u>Debit</u>

Trade Payable        $10,050

Totals                      $10,050

<u>Credit</u>

Balance c/d             $10,050

Totals                      $10,050

Trade Payable Account

<u>Debit</u>

Cash                             $10,050

Totals                           $10,050

<u>Credit</u>

Office Equipment        $10,050

Totals                           $10,050

Trade Receivable Account

<u>Debit</u>

Fees Earned     $2,700

Totals                $2,700

<u>Credit</u>

Cash                   $1,125

Balance c/d       $1,575

Totals                $2,700

Rent Expense Account

<u>Debit</u>

Cash                                   $1,225

Totals                                 $1,225

<u>Credit</u>

Profit and Loss Account   $1,225

Totals                                 $1,225

Fees Earned Account

<u>Debit</u>

Trading Account  $2,700

Totals                    $2,700

<u>Credit</u>

Trade Receivable $2,700

Totals                    $2,700

Explanation:

All transaction are first record in the journal. Be careful to use the account titles provided by the question.

The Posting to general account is the second stage in accounting. Here account balances to be transferred into the trial balance are established.

8 0
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