Twelve customers arrive at the lunch counter at George's Happy Hog per hour and select the hickory smoked meat du jour along with a side and soda for $5. The server doubles as the cashier and can take and fill an order in three minutes on average
What is the lowest number n such that the likelihood of n or more customers in line and receiving service is 0? Assume that the arrival and service times can be assumed as exponentially distributed.
A) one
B) two
C) three
D) four
D
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On September 12, Ryan Company sold merchandise in the amount of $8600 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5400. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $780 and the cost of the merchandise returned is $490. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 8428? | |
| Accounts receivable | 8428? |
B.
| Cash | 8600? | |
| Accounts receivable | 8600? |
C.
| Cash | 7664? | |
| Accounts receivable | 7664? |
D.
| Cash | 7664? | |
| Sales discounts | 156? | |
| Accounts receivable | 7820? |
E.
| Cash | 8428? | |
| Sales discounts | 172? | |
| Accounts receivable | 8600? |
Assume that the $2,000, 90-day, 8 percent note was received on August 31 and that the fiscal year ended on September 30. The adjusting entry that would be made to record the interest receivable is (amounts rounded to nearest dollar):
A) Interest Receivable 13 Interest Income 13 B) Notes Receivable 13 Interest Income 13 C) Accounts Receivable 39 Cash 39 D) Interest Income 39 Accounts Receivable 39
_____ are a presentation software feature, which provide special effects that introduce each electronic slide as it appears on the screen
Fill in the blank(s) with correct word
Routinized response behavior is typical for low-involvement purchases.
Answer the following statement true (T) or false (F)