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34kurt
3 years ago
14

Which of the following is an example of categorical data? A social security number B score on a multiple-choice exam C height, i

n meters, of a diving board D number of square feet of carpet
Business
1 answer:
Dima020 [189]3 years ago
4 0

Answer:

A social security number

Explanation:

Categorical data is type of data that can be divided into groups or the data which defines a category

Here, in the given question

Score on a multiple-choice exam, Height, in meters, of a diving board and number of square feet of carpet are the quantitative data which means the data quantifies a sample with a particular value.

While A social security number defines a certain category of people.

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On January 1, 2021, Nantucket Ferry borrowed $14,000,000 cash from BankOne and issued a four-year, $14,000,000, 6% note. Interes
kari74 [83]

Answer:

If Interest is not Paid yet

Nantucket Ferry

Dr. Interest Expense $840,000

Cr. Interest payable  $840,000

BankOne

Dr. Interest receivable $840,000

Cr.  Interest Income     $840,000

If Interest is Paid

Nantucket Ferry

Dr. Interest Expense    $840,000

Cr. Cash                        $840,000

BankOne

Dr.  Cash                       $840,000

Cr.  Interest Income     $840,000

Explanation:

Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.

As per given data

Amount borrowed  = $14,000,000

Coupon rate = 6%

Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.

Coupon Payment = $14,000,000 x 6% = $840,000

$840,000 will be paid annually to the Bank one.

6 0
3 years ago
Brad Essary owned a small company that sold garden equipment. The equipment was expensive, and a perpetual system was maintained
olga_2 [115]

Answer:

Total= $77,300

Explanation:

Giving the following information:

lost, damaged, and stolen merchandise normally amounted to 5 percent of the inventory balance. On June 14, Essary's warehouse was destroyed by fire. Just before the fire, the accounting records contained a $136,000 balance in the Inventory account. However, inventory costing $16,900 had been sold and delivered to customers but had not been recorded in the books at the time of the fire. The fire did not affect the showroom, which contained inventory that cost $35,000.

Accounting record= 136,000

Normal Damaged merchandise= 136,000*0.05= 6,800 (-)

Sold inventory= 16,900 (-)

Showroom= 35,000 (-)

Total= $77,300

3 0
3 years ago
Which of the following is the correct statement about fixed costs? The fixed cost per unit will decrease when volume increases.
Montano1993 [528]

Answer:

The correct statement is: "The fixed cost per unit will decrease when volume increases."

Explanation:

Total fixed costs remain the same within a relevant range, but the <em>fixed cost per unit</em> decreases as production increases, because the same fixed costs are spread over more units produced.

6 0
3 years ago
A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12
aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

        = 115.47

The expected number of orders = $\frac{\text{demand}}{EOQ}$

                                                      $=\frac{2000}{115.47}$

                                                      = 17.32

The daily demand = demand / number of working days

                               $=\frac{2000}{240}$

                              = 8.33

The time between the orders = EOQ / daily demand

                                                 $=\frac{115.47}{8.33}$

                                                  = 13.86 days

ROP  = ( Daily demand x lead time ) + safety stock

        $=(8.33 \times 8)+10$

         = 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

                                         $=\frac{115.47}{2} \times 3.6$

                                         = 207.85

The annual ordering cost = $\frac{\text{demand}}{EOQ} \times \text{ordering cost}$

                                           $=\frac{2000}{115.47} \times 12$

                                           = 207.85

So the total inventory cost = annual holding cost + annual ordering cost

                                            = 207.85 + 207.85

                                            = 415.7

6 0
3 years ago
Equipment was acquired on January 1, 2019 at a cost of $190,000. The equipment was originally estimated to have a salvage value
Sophie [7]

Answer:

Journal:

Dec. 31, 2022:

Debit Depreciation Expense $18,600

Credit Accumulated Depreciation $18,600

To record depreciation expense for the year.

Explanation:

a) Depreciation charge for each of the 3 years, calculated as ($190,000 - $22,000)/10 = $16,800

2019: $16,800

2020: $16,800

2021: $16,800

Accumulated Depreciation to date = $50,400 ($16,800*3)

b) Book Value on January 1, 2022 = $139,600 ($190,000 - $50,400)

c) New Depreciation charge from 2022 = $18,600 ($139,600 - $28,000) /6 years, the remaining useful life based on the revised estimate.

d) There is adjusting journal entry.  Depreciation is an estimate based on judgement and past events.  Judgement can change to address current events.  So, there is no need adjusting the entries for the previous three years.

6 0
3 years ago
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