The average price of homes sold in the u. s. in 2012 was μ = $240,000. a sample of 144 homes sold in chattanooga in 2012 showed an average price of $246,000. the population standard deviation (σ) is known to be $36,000. we are interested in determining whether or not the average price of homes sold in chattanooga is significantly more than the national average. question: what sampling distribution should be used to test whether the chattanooga sample mean is significantly higher than the national average?

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?