Flora Accounting Services Completed These Transactions in February

question 99

Essay

Flora Accounting Services completed these transactions in February:
a. Purchased office supplies on account, $300.
b. Completed work for a client on credit, $500.
c. Paid cash for the office supplies purchased in (a).
d. Completed work for a client and received $800 cash.
e. Received $500 cash for the work described in (b).
f. Received $1,000 from a client for accounting services to be performed in March.
Prepare journal entries to record the above transactions. Explanations are not necessary.

---

Definitions:

Alternative Hypothesis

The hypothesis that states there is a statistically significant relationship between two variables, contrary to the null hypothesis.

Means

The statistical measure that identifies the central tendency of a data set by dividing the sum of all values by the number of values.

T-test

A statistical test used to compare the means of two groups and determine if the differences between them are statistically significant.

Independent Means

Refers to the average values derived from two separate groups that are not related to each other, often used in statistical comparisons.