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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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Answer: 12

Explanation:

42

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When presenting solutions, Chris (a salesperson)often has to handle buyer resistance. Chris should think of buyer resistance as
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Answer:

C) Positive

Explanation:

Although in the question it is stated that Chris, who is a salesman, manages the buyer resistance while presenting the solutions, the Chris also thinks that buyer resistance is a positive event

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3 years ago
Summerdahl Resort’s common stock is currently trading at $36 a share. The stock is expect- ed to pay a dividend of $3.00 a share
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Answer:

<u>Cost of common equity is 0.1333 or 13.3%</u>

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P= D1/(r-g)

D1=3.00

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6 0
3 years ago
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Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2013. The manufacturing cost
Taya2010 [7]

Answer:

b. $3,115,234

Explanation:

Opening Balance as on 01.01.2013                        $21,000,000

Less: Payment of First Instalment on 01.01.2013   <u>$3,002,038</u>

Net Balance as on 01.01.2013                                 $17,997,962

Add: Interest at 9% up to 30.06.2013                    $1,619,816

Less: Payment of 2nd instalment on 30.06.2013  <u>$3,002,038</u>

Balance as on 01.07.2013                                      $16,615,740

Interest at 9% up to 31.12.2013                                $1,495,417

Total interest revenue to be reported on the lease during the calendar year 2013 = $1,619,816 + $1,495,417 = $3,115,234

7 0
3 years ago
On March 2, Kingbird, Inc. sold $954,000 of merchandise on account to Ayayai Company, terms 4/10, n/30. The cost of the merchand
shtirl [24]

Answer:

Following Journal Entries are recorded for Kingbird, Inc

Explanation:

<u>March 02</u>

Debit: Account Receivable = $954,000

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