1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ANEK [815]
3 years ago
9

A motor vehicle sold on credit to C. Kelly will require which of the following entries:

Business
1 answer:
blondinia [14]3 years ago
4 0

When a motor vehicle is sold to C. Kelly on credit, the relevant entries would be<u> Debit C. Kelly</u><u>, </u><u>Credit </u><u>Motor </u><u>vehicle</u><u>. </u>

When an item is sold on credit to an entity, that entity becomes an Accounts Receivable. As this is an asset, it is debited when it increases which is the case here with C. Kelly purchasing the car on credit.

The motor vehicle account is an asset and assets are credited when they decrease. By selling the vehicle, the motor vehicle account will be credited to show that motor vehicles have decreased.

In conclusion, the accounting entry for the above scenario would be <u>Debit C. Kelly, Credit Motor vehicle. </u>

<em>Find out more at brainly.com/question/20519391. </em>

You might be interested in
In a lease contract, the party to whom the rights to use the asset are granted is called the:____.
lesya692 [45]

A lease is a contractual arrangement where one party, called the lessor, provides an asset for use by the other party, referred to as the lessee, based on periodic payments for an agreed period. The lessee pays the lessor for the usage of the asset or property

The landlord is the party to the lease who owns the property and leases it to the tenant as a rental property for temporary possession. For example, in a rental house, the landlord is the landlord and the tenant is the tenant.

A lessor is either an individual or a legal entity such as a company or organization. The lessor is always the owner of the property. For example, for a car, the lessor can be the owner or car dealer who rents the car. The lessee is always the person who uses the property temporarily

Learn more about lessors here

brainly.com/question/14631319

#SPJ4

6 0
2 years ago
The net of a triangular prism is shown below.
harkovskaia [24]

The perimeter is the sum of all three sides of the triangle. In this case it is 18.

<u>Explanation:</u>

In geometry, a triangular crystal is a three-sided crystal; it is a polyhedron made of a triangular base, a deciphered duplicate, and 3 faces joining comparing sides. A privilege triangular crystal has rectangular sides, else it is angled.

A triangular prism has two triangular bases and three rectangular sides and is a pentahedron since it has five countenances. Outdoors tents, triangular rooftops and "Toblerone" wrappers - chocolate pieces of candy - are instances of triangular prisms.

6 0
3 years ago
Tara's company has launched a new style of lightweight running shoe. The company recently received some bad publicity. Tara is p
pogonyaev

Incomplete question. The remaining part reads;

<u>Identify the sales promotion technique based on the given scenario.</u>

Answer:

<u>Loyalty Points to Customers.</u>

Explanation:

An important sales promotion technique that fits well into this technique is the sales promotion technique. This technique involves providing some incentives that motivate your aggrieved customers to reconsider coming back to you.

For example, Tara could offer her customers loyalty points which they can redeem as discounts for every pair of the new style of lightweight running shoe. By so doing, she may be able to regain the trust of her customers.

6 0
3 years ago
Business sofware programs make it possible to
Leto [7]

Answer:

increase productivity in office setting

4 0
3 years ago
As a small business owner in today’s economy, what three financial reports would you use on a regular basis? What information wo
nalin [4]

Answer: Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Explanation:

Balance Sheet or the statement of Financial Position  is a report that shows the assets that your business owns against your equity and liabilities. This report can help you make asset purchasing decisions or decisions about how to fund the acquisition of new assets.

Profit and Loss Statement: shows a detail of the income your business has earned, the expenses you incurred to earn this income and your profit/loss. This report can help you figure out if your expenses are too high or the prices you charge for your goods/services are too low.

Cash Flow Statement: shows your liquidity position at different points during a financial period. This report is important as it allows you to see periods when you may need an extra inflow of funds to keep your business operational and can help you decide when to apply for bank loans or whether to delay the purchase of some assets.

6 0
3 years ago
Other questions:
  • How much of the federal government's income comes from individual income tax? (1 point)
    13·1 answer
  • Sheridan Company had the following transactions that took place during the year: I. Paid amount owing to suppliers $2370. II. Pu
    8·1 answer
  • Which statement best explains the law of supply?
    8·2 answers
  • A. Cash receipts from customers for services rendered __________ Operating __________Inflow
    11·1 answer
  • You are the PR officer of a major MNE in the chemical industry. The national press in your home country alleges that your compan
    10·1 answer
  • For a long time, when a team from the American Football Conference won the Super Bowl, the stock market had a bad year; when a t
    6·1 answer
  • Rabah has just been hired as manager of a health spa. The owner has commissioned a market study that estimates the per person (a
    5·1 answer
  • A company purchased a van at a cost of $42,000 and expects it can be sold for $6,000 after 120,000 miles of service. Assuming th
    12·1 answer
  • Kirov, Inc. reports credit sales of $200,000 for the year ending December 31, 2015. The year- end unadjusted balance of its Allo
    14·1 answer
  • Suppose some banks decide to increase their holdings of excess reserves relative to deposits. Ceteris paribus, this action will
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!