Dr. Peabody paid $213 for repairs to his dental equipment. Which of the following statements is true?

Business

1 answer:

galina1969 [7]3 years ago

5 0

Answer:

D. Cash is credited $213; repairs and maintenance expense is debited $213.

Explanation:

In double-entry accounting, transactions that reduce assets such as cash are credited while those that increase assets are debited.

By paying for repairs services, the amount of cash at hand reduces by $213. Because cash is an asset, the cash account will be credited( reduced) by $213.

Repairs and maintenance expense account is an expense account as the name suggest. As a rule, transactions that increase expenses are debited. In this case, Mr. Peabody will debit( increase) the repairs and maintenance account by $213.

You might be interested in

Albert purchased a tract of land for $140,000 in 2016 when he heard that a new highway was going to be constructed through the p

Darina [25.2K]

Answer and Explanation:

Albert cannot claim any loss during 2019.

The sale of the property is necessary to claim the loss of depreciation on any type of movable or immovable property. In the following case, Albert is not selling his property due to which he cannot claim any loss, hence Albert's current year's loss claim will be zero.

8 0

3 years ago

Johanna is responsible for setting goals and planning at a medium- sized company. Her job title is director of communications. W

umka2103 [35]

The level of job that require Johanna to be responsible for setting goals and planning in the company would be : Top-Level ManagerTop level manager consist of Board of directors, president, vice president, General Managers, and senior managers. These people have the credibility to create a planning/decision for the company

5 0

3 years ago

John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions would e

jeka94

Since their is no choices he shouldn’t never touch the money and keep adding cash it increase it over time.

8 0

3 years ago

Unusually sharp, a number in dice and giving direction or quoting a price. A decimal mark, deciding a game or a moment in time t

emmainna [20.7K]

Answer:yes

Explanation:

4 0

3 years ago

What would marginal analysis put an emphasis on?

DIA [1.3K]

The answer to this question is: <span>additional costs and benefits.
</span><span> is an examination of the additional benefits that received from doing an activity compared to the cost that must be incurred in order to do that activity.
</span>This analysis will help companies to determine what operations that they should maintain in the future in order to keep the profit margin of the company.

5 0

3 years ago