Answers
Answer:
Here's the general journal entry for Tom's business starting on 10.06.2019:
Date: 10.06.2019
Account Debit Credit
Cash 10,000
Truck 7,500
Stocks 700
Bank loan 2,500
Explanation:
Tom invested K 10,000 in cash to start the business, which is recorded as a debit to the Cash account.
He also purchased a truck for K 7,500 and stocks for K 700, which are recorded as debits to the Truck and Stocks accounts, respectively.
To finance his business, Tom took out a bank loan for K 2,500, which is recorded as a credit to the Bank loan account.
Note: The accounts used in this entry are assumed based on the information provided. It's important to use appropriate accounts based on the specific nature of the business and transactions
Related Questions
Question 3 of 20
When is the revenue earned by a company for the sale of goods recognized
and recorded?
OA. always 30 days after the sale
OB. when the customer sells the products
C. when the goods are paid for
OD. when the sale is made
SUBMIT
Answers
Answer: The answer is option D
Explanation:
According to accounting principles, revenues are recognized when the sale is made SUBMIT as it does not depend on the payment that is received by the seller or not. And also it is recognized when a critical event has occurred.
1) according to a recent survey, 30% of credit card holders pay off their balances in full each month. if a random sample of 400 credit card holders is taken, what is the probability that
Answers
Based on the given information, the probability of a credit card holder paying off their balance in full each month is 30% (0.30). Since a random sample of 400 credit card holders is taken, the expected number of cardholders who pay off their balance in full is 0.30 * 400 = 120. Therefore, the probability of a randomly selected credit card holder from the sample paying off their balance in full is 120/400 = 0.30 or 30%.
According to a recent survey, 30% of credit card holders pay off their balances in full each month. If a random sample of 400 credit card holders is taken, the probability that less than 100 pay off their balances in full each month can be determined as follows:Step 1: Determine the mean (μ) and the standard deviation (σ) of the distribution using the following formulas:μ = np = 400 x 0.30 = 120σ = √np(1 - p) = √(400 x 0.30 x 0.70) = 8.66Step 2: Determine the z-score using the formula:z = (x - μ) / σwhere x is the number of credit card holders who pay off their balances in full each month.
For less than 100 pay off their balances in full each month, z = (100 - 120) / 8.66 = -2.31Step 3: Determine the probability using the standard normal distribution table. The area to the left of z = -2.31 is 0.0104.Therefore, the probability that less than 100 pay off their balances in full each month is 0.0104 (or approximately 1.04%).
Based on the given information, the probability of a credit card holder paying off their balance in full each month is 30% (0.30). Since a random sample of 400 credit card holders is taken, the expected number of cardholders who pay off their balance in full is 0.30 * 400 = 120. Therefore, the probability of a randomly selected credit card holder from the sample paying off their balance in full is 120/400 = 0.30 or 30%.
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Pradeep is a fresher in a marketing firm. This is his first job and he was asked to make a presentation on the recruitment policy. However, he was quite confused with the different types of factors affecting recruitment methods. Therefore, he went to the HR department
for more clarification. Help him answer the following questions :
Pradeep is a fresher in a marketing firm. This is his first job and he was asked to make a presentation on the recruitment policy. However, he was quite confused with the different types of factors affecting recruitment methods. Therefore, he went to the HR department for more clarification. Help him answer the following questions :
a. Explain to him what are the different internal factors affecting recruitment of a company.
Give examples.
b. He was also quite curious about the external factors affecting recruitment plans in the organisation. Elaborate these with examples
Answers
Internal factors affecting recruitment are those that come from within the organisation and have the potential to affect the hiring process.
Explain the factors affecting recruitment.i. Human Resource Planning: Human Resource Planning is the first step in the recruitment process. This entails determining the organization's needs for human resources and making a plan to address those needs. ii. Organizational size - The recruitment process is heavily influenced by the size of the organisation. Compared to smaller organisations, large organisations may need a more involved and involved recruitment process. iii. Recruitment policy - A company's hiring practises are governed by its recruitment policy, which outlines the procedures it must follow. The policy may specify details like the kind of applicants to be hired, the compensation package, etc. iv. Company culture: An organization's employees' shared values, beliefs, practises, and behaviours are referred to as the company culture.
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