When a motor vehicle is sold to C. Kelly on credit, the relevant entries would be<u> Debit C. Kelly</u><u>, </u><u>Credit </u><u>Motor </u><u>vehicle</u><u>. </u>
When an item is sold on credit to an entity, that entity becomes an Accounts Receivable. As this is an asset, it is debited when it increases which is the case here with C. Kelly purchasing the car on credit.
The motor vehicle account is an asset and assets are credited when they decrease. By selling the vehicle, the motor vehicle account will be credited to show that motor vehicles have decreased.
In conclusion, the accounting entry for the above scenario would be <u>Debit C. Kelly, Credit Motor vehicle. </u>
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<span>The correct answer is
False</span>
Explicit collusions are
not legal because they lead to cartel like behavior. This is because they
involve a situation where a small group of oligopolists recognize their mutual interdependence
and act to coordinate their behavior in the form of a cartel
- The preparation of the incremental analysis of Twilight hospital is presented below:
<u>Particulars Retain scanner Replace scanner Net income </u>
Annual
operating cost $318,000 $243,000 $75,000
($106,000 × 3) ($25,000 × 3)
New
scanner cost $110,000 -$110,000
Old scanner salvage -$45,500 $45,500
Total $318,000 $307,500 $10,500
In this way, the incremental analysis should be prepared.
Learn more about the salvage value here: brainly.com/question/15711481
Answer:
C. $10,000 positive.
Explanation:
The computation of the amount that should be included is shown below:
= (Option strike price - spot rate) × purchased put options
= ($2.17 - $2.13) × 250,000
= $10,000
As the spot rate is less than the strike price so automatically there is a gain of $10,000
Hence, the option c is correct
When creating advertisement for an Italian restaurant, you should include information about Italian food in the description. This will serve to arouse the interest of the reader and compel them to patronize the restaurant.
