Use the Information and Random Numbers Given in the Table

question 40

Essay

Use the information and random numbers given in the table below to simulate the sale of newspapers for 10 days.
$$\begin{array} { | c | c | c | c | c | c | c | } \hline \text { Day } & \text { Demand } & \begin{array} { c } \text { Random } \\\text { Number }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Ordered }\end{array} & \text { Sales } & \begin{array} { c } \text { Unsatisfied } \\\text { Demand }\end{array} & \begin{array} { c } \text { Unsold } \\\text { Papers }\end{array} \\\hline 1 & & .78 & 18 & & & \\\hline 2 & & .43 & & & & \\\hline 3 & & .93 & & & & \\\hline 4 & & .87 & & & & \\\hline 5 & & .48 & & & & \\\hline 6 & & .84 & & & & \\\hline 7 & & .87 & & & & \\\hline 8 & & .27 & & & & \\\hline 9 & & .20 & & & & \\\hline 10 & & .52 & & & & \\\hline\end{array}$$
After completing the simulation, determine his total revenue for the ten days as well as monetary losses that result from unmet demand and unsold papers.

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Definitions:

Journalize

The process of recording financial transactions in a company's journal, detailing debits and credits for accounting purposes.

Common Stockholders' Equity

The portion of a company's equity that is attributable to common stock owners, calculated as total equity minus preferred stock equity.

Prior Period Adjustments

Corrections made to a company's financial statements for errors or omissions in previously reported periods.

Revaluation Surplus

The increase in value of an asset, reflected in the company's financial statements, from re-assessing its carrying value to a higher current market value.