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Zina [86]
3 years ago
5

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.

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We refer to the Federal Reserve as ?<br> “The b... b..”
antoniya [11.8K]

Explanation:

the federal receive the common thing

3 0
2 years ago
Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen
Vladimir [108]

Answer:

(1) Shen spends $200 to purchase legal service from Rowan and Martin. Associates - Dollars

(2) Valerie spends $8 to order a mojito cocktail - Dollars.

(3) Shen earns $375 per week working for Little Havana - Inputs.

Explanation:

<em>(1) & (2) statements in the "Answer" above</em> are <em>purchase on cash </em>transactions. Hence, they imply the flow of <em>dollars</em> from the household to the firm.

<em>(3) statement in the</em> <em>"Answer" above</em>  implies giving of <em>factor input labor services</em> by Shen to Little Havana. Hence, it indicates the flow of <em>inputs </em>from the household to the firm.

4 0
3 years ago
A current emphasis in supply chain management is to make the process of ordering as simple as possible, often through electronic
Valentin [98]

Answer:

The correct answer is a. quick response and efficient consumer response delivery systems .

Explanation:

Rapid response systems, as the name implies, seeks to simplify the order process by making it as simple and fast as possible. This is of great importance to large store buyers who handle large volumes of inventory and require a quick response on availability and the time it would take for a new order to arrive to fill their shelves. Technology is important in this process because of its ability to generate data instantly, and because the transmission of information is done just a click away.

6 0
3 years ago
Monopolistic competition resembles pure competition because:
OleMash [197]

Answer:

The correct answer is D.

Explanation:

Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.

Monopolistic competitive markets:

have products that are highly differentiated, meaning that there is a perception that the goods are different for reasons other than price;

have many firms providing the good or service;

firms can freely enter and exits in the long-run;

firms can make decisions independently;

there is some degree of market power, meaning producers have some control over price; and

buyers and sellers have imperfect information.

7 0
3 years ago
Q 9.26: Crawford Trucking plans to dispose of two trucks in 2018. They sell the first truck on January 2 and the second truck on
deff fn [24]

Answer:

Crawford Trucking

Calculation of book value for disposal of two vehicles:

a) The Truck sold on January 2 would not have depreciation expenses computed for it.  The book value on January 1 would be the same on January 2.  It is not practical to compute depreciation expense for 1 day.

b) The Truck sold on July 9 would have depreciation computed for the year 2018 pro rated for six months.  The book value would be less than the Truck sold on January 2.

Explanation:

Depreciation expense may be pro rated depending on the prevailing circumstances.  This becomes necessary because the sold unit may not be fully utilized for the period under review.  Under the matching principle of generally accepted accounting principles, it is imperative to match revenue to the period they were incurred.

5 0
3 years ago
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