It is given in the question that
You work at a T-shirt printing business. Of 1,300 T-shirts shipped, 106 are imperfect.
So out of 1300 T-shirts, number of perfect t-shirts are
So probability that the t-shirt is printed correctly is
And to find the percentage, we have to multiply it by 100, and on doing so we will get 92 % .
Following are the general entry to the given question:
For Question 1:
Date Account Titles and Explanation Dr Cr
31-Jan-2024 Revenue Service $17,500
Summary of Income $17,500
(Finishing the revenue account)
31-Jan-2024 Summary of Income $7,100
Expense of Salary $3,600
Expense on rent $1,800
Expense of Depreciation - equipment $300
Expense on Supplies $400
Expense on Utilities $1,000
(To close the expenditure account)
31-Jan-2024 Summary of Income $10,400
Retained Earnings $10,400
(To bring net income into line with retained profits)
31-Jan-2024 Retained Earnings $1,000
Dividend $1,000
(To close net dividend to retained earnings)
For Question 2:
A net income of $10,400 is generated. They may compute it by subtracting total expenses from the entire revenue.
Total Revenue= $17,500
Total Expenses=$7,100
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