Answer:
The correct answer is D
Explanation:
Empirical rule is the rule in statistics, which defined as that for the normal distribution, that is as:
68% of the data fall under one standard deviation of mean.
Data which is 95% lie under the two standard deviations of the mean.
Data (All) which is 99.7% lie under the three standard deviations of the mean.
So, in this case, the sample mean fall under second category, which is as:
= Sample mean ± 2 (Standard deviation)
= $150 ± 2($20)
= $150 ± $40
= $150 + $40 and $150 - $40
= $190 and $110
Answer: B. Statement 1 is false and statement 2 is true
Explanation:
Preference Shareholders do not see their dividends raised when a company is going through good times. This is because they usually earn a FIXED dividend.
Ordinary/Common Shareholders though, will usually see their dividends rise when a company performs well so that they may enjoy the profits.
If you need any clarification do comment.
Answer:
Debit : Allowance for doubtful debts - $62,000
Explanation:
An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. This can be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply an estimation made, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.
An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement.
The question states that the company had recorded $62,000 as a bad debts expense in its income statement. In order to do this, the company would have first made an estimate of bad debts known as the allowance for doubtful debts where:
Debit : Bad Debts
Credit : Allowance for doubtful debts
When the amount is officially declared uncollectible as in this case, the allowance for doubtful debts account will be debited with $62,00 and the accounts receivables account will be credited with $62,000 meaning that the money would not be expected to be received from that debtor anymore.
Answer: Inside order taker
Explanation:
The Inside order taker is one of the type of salesperson in an organization and the main responsibility of the inside order taker is to collecting the orders of the various types of products and then make a entries about the sales order at the counter.
According to the given question, Hollie is works as the salesperson for the Land's end and her duty is to taking the various types of orders from the consumer over the mobile or telephone system and ensure that the information is properly given by the consumer.
The inside order taker then making a proper entries of the orders and it also helps in increase the customer frequency for the new orders in an organization.
Therefore, Inside order taker.
