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goldenfox [79]
2 years ago
7

Pharoah Company had the following two transactions related to its delivery truck. 1. Paid $280 for an oil change. 2. Paid $600 t

o install a special gear unit, which increases the operating efficiency of the truck.Required:Prepare Pharoah's journal entries to record these two transactions.
Business
1 answer:
aksik [14]2 years ago
3 0

Answer:

1.

Oil change expense             $280 Dr

     Cash                                         $280 Cr

2.

Delivery Truck Account                    $600 Dr

       Cash                                                 $600 Cr

Explanation:

1.

The cost incurred to cover the day to day expenses related to an asset which does not increase the asset's useful life or benefit but merely maintains them are recorded as revenue expenditure. Such expenses are charged as expenses to the income statement. The cost incurred for oil change which is for maintenance purpose is a revenue expenditure.

2.

The cost incurred for capital expenditure is added to the cost of the asset and systematically charged to the income statement using the depreciation. Any expense that will increase the life or operating efficiency and benefit form a fixed asset is a capital expenditure and is capitalized by adding it to the cost of the asset. So, installation of a special gear unit giving increased efficiency is a capital expenditure.

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Two gamblers bet $1 each on the successive tosses of acoin. Each has a bank of $6. What is the probability that:a They break eve
strojnjashka [21]

Answer:

Part a: The probability of breaking even in 6 tosses is 0.3125.

Part b: The probability that one payer wins all the money after the 10th toss is 0.0264.

Explanation:

Part a

P(success)=1/2=0.5

P(Failure)=1/2=0.5

Now for the break-even at the sixth toss

P(Break Even)=P(3 success out of 6)

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=^6C_3/(2^6)\\=5/16\\=0.3125

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Part b:

So the probability that one of the player wins all the money after the 10th toss is given as the tenth toss is given as a win so

Wins in 9 tosses is given as 9!/7!=72

The probability that the other person wins

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So the probability of all the money is won by one of the gambler after the 10th toss is given as

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8 0
3 years ago
Requirement 3. The company marketing vice president believes a new sales promotion that costs $ 140 comma 000 would increase sal
gregori [183]

Answer:

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Explanation:

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Answer:

increase in output, but not in the equilibrium price of the product. 

Explanation:

The options weren't provided. The full question can be found here - https://www.chegg.com/homework-help/questions-and-answers/perfectly-competitive-industry-x-constant-costs-product-inferior-good-industry-currently-l-q39354625

An inferior good is a good whose demand increases when income falls and whose demand falls when income rises.

When average income falls, the demand for good X rises. The level of output increases as a result of the rise in demand but price doesn't change.

I hope my answer helps you.

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