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3 years ago

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

To be a successful manager, the only skills an IT project manager needs to possess is excellent technical skills.

xeze [42]

Answer:

false

Explanation:

For successful IT managers, IT knowledge is not only the skills that need to be inherited but skills like communication, organizational and negotiation skills are must also.

other skills other than IT is also play a very important role in the growth of an individual.

communication skills help to developed interpersonal skills. A good communicator is a good influencer and good motivator thus individual having good communication can help and guide their subordinate to bring the positive results

4 0

3 years ago

When Frito-Lay introduced its Stax brand of potato chips. These chips were meant to compete directly against Pringles. The inten

Sedbober [7]

Answer:

B, penetration pricing

Explanation:

Penetration pricing is a pricing strategy in which a manufacturer sets the price of its product low for a start so as to have a wide reach and acceptability in the market.

This pricing strategy is meant to make customers ditch their usual product for the new product, thereby having the new product attracting customers to itself.

Ultimately, penetration pricing increases market share of the new product manufacturer as it gains a lot of customers within the shortest possible time.

Penetration helps to discourage new product entrance into the market thus giving the product a large/high stock turnover throughout the product's distribution channel.

In the above question, Frito lay introduced its chips at a low price of 69cents for a period of time (first few months, say 3 or 4 months for example) in order to gain market share quickly.

Cheers

3 0

3 years ago

The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loa

klio [65]

<h2>Question:</h2>

As the data in incomplete, lets consider the data found on the net for the same question

DATE LIBOR

week 1 1.98%

week 2 1.64%

week 3 1.54%

week 4 1.31%

week 5 1.57%

week 6 1.69%

week 7 1.66%

week 8 1.94%

week 9 1.92%

(This data in not given in the question. If some values differ from this data, just change the that value in the method below and you'll get your answer)

<h2></h2><h2>Answer:</h2>

Floating rate = 0.25%

Maximum rate = 2.24%

Minimum rate = 1.71%

General formula for for finding rate of interest of a week

Week Rate = Previous Week's Rate (LIBOR from table) + Floating Rate

Lets find the values:

Week 2 rate = Week 1 rate + 0.25% = 1.98% + 0.25% = 2.23%

Week 3 rate = Week 2 rate + 0.25% = 1.64% + 0.25% = 1.89%

Week 4 rate = Week 3 rate + 0.25% = 1.54% + 0.25% = 1.79%

Week 5 rate = Week 4 rate + 0.25% = 1.31% + 0.25% = 1.56%

Week 5 rate is lower than the minimum rate, rate of Week 5 can be taken as minimum rate

Week 5 rate = 1.71%

Week 6 rate = Week 5 rate + 0.25% = 1.57% + 0.25% = 1.82%

Week 7 rate = Week 6 rate + 0.25% = 1.69% + 0.25% = 1.94%

Week 8 rate = Week 7 rate + 0.25% = 1.66% + 0.25% = 1.91%

Week 9 rate = Week 8 rate + 0.25% = 1.94% + 0.25% = 2.19%

Week 10 rate = Week 9 rate + 0.25% = 1.92% + 0.25% = 2.17%

8 0

3 years ago

What ways can land contribute to production

wel

Answer:

yes land can contribute to production.

Land is the only place to grow crops and to do farming. if we do good to land by using organic fertilizers then production will also be good. so land is the only source for the production of crops as land provides minerals and vitamins to the plants for the production of crops.

8 0

3 years ago

The ACME manufacturing company is weighing its options to source Component X. Supplier A would cost $3000 per order plus $2.50 f

raketka [301]

Question Completion:

Since the options are not provided, it is assumed that ACME requires 2,000 units of Component X monthly. Which supplier should the company choose?

Answer:

ACME Manufacturing Company

The supplier that should be chosen is:

Supplier A.

Explanation:

a) Data and Calculations:

Quantity of component X required monthly = 2,000 units

Cost of buying from supplier A = $3,000 + ($2.50 * 2,000) = $8,000

Cost of buying from supplier B = $6 * 2,000 = $12,000

Cost of buying from supplier C = $5 * 2,000 = $10,000

b) This cost decision depends on the quantity of component X required by ACME manufacturing. If the quantity were to be less than or equal to 1,100 units, another supplier other than supplier A might be preferred. Again, if there are other considerations apart from cost, supplier A might not be chosen. The implication is that the choice of a supplier for a component depend on many factors.

8 0

3 years ago