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
Suppose that a firm produces 10 units of output. Its Average Variable Cost (AVC) = $25, Average Fixed Cost (AFC) = $5, and Margi
Andreyy89

Answer:

Total Cost  = $300

Average Total Cost = $30  

correct option is a.) Total cost is $300

Explanation:

given data

produces output = 10 units

Marginal Cost = $30

Average Variable Cost = $25

Average Fixed Cost = $5

solution

first we get here total cost that is

Total Cost = Total Variable Cost + Total Fixed Cost    .................................1

so here Total Variable Cost = Average Variable Cost × Output    

Total Variable Cost = $25 ×  10

Total Variable Cost =  $250

and total fix cost is = Average Fixed Cost × Output

total fix cost = $5 × 10 =

total fix cost = $50

so Total Cost is here

Total Cost  = $250 + $50

Total Cost  = $300

A) is correct

and

Average Total Cost will be

Average Total Cost = \frac{total\ cost}{out\ put}    ...................2

Average Total Cost = \frac{300}{10} = $30

Average Total Cost = $30  

3 0
3 years ago
Of the following types of administrative professionals, which one can expect to earn the highest salary?
krok68 [10]

Out of the administrative professional roles listed, the one who can expect the highest salary is B. Senior executive assistant.

The senior executive assisant has a higher job title over a data-entry specialist, receptionist, and human resource assistant. When trying to figure out which would get paid the most, time on the job is usually a factor on pay. The title with senior in it, states that person has done the job for awhile and is expected to do and know more than someone at an entry level position.

7 0
3 years ago
Formal tax definition<br>​
const2013 [10]

Answer:

Formal tax legislation is the process by which a proposed tax rule or tax change may become law in the United States. Formal tax legislation follows specific steps as defined by the U.S. Constitution.

Explanation:

4 0
3 years ago
Read 2 more answers
The idea that an economy can get stuck in either an unemployment equilibrium or an inflation equilibrium is most closely associa
satela [25.4K]

Answer: D

Explanation:

the idea of coordination failures

8 0
3 years ago
Read 2 more answers
Born and raised in India, Rashmi has always enjoyed Indian cooking. As a matter of fact, cooking was her passion and she always
My name is Ann [436]

Answer:

The answer is: Modify

Explanation:

In Rashmi´s catering business, modify refers to changing the process in order to solve problems.

Rashmi must change her recipes so that the food she sells isn´t too spicy for his potential customers. Indian food is famous for being extra spicy, but American food isn´t so she must modify it to satisfy American taste.    

3 0
4 years ago
Other questions:
  • Elena works in the audit department of a practice as an audit administrator. She assists the audit teams by recording and proces
    6·1 answer
  • Stockbridge Sprockets Inc. earned $2.25 per share last quarter, and $2.50 in the last quarter of 2019. Because of declining dema
    13·1 answer
  • Jogging gear is considering a project with an initial cash requirement of $238,400. the project will yield cash flows of $4,930
    13·1 answer
  • The state of the economy alone can predict how the financial market will perform.<br> True<br> False
    12·1 answer
  • HELP!!!
    12·1 answer
  • Regina finds a new car costing $25,000 and a used car costing $17,000. Which car will have higher insurance premiums and why?
    15·1 answer
  • Sprouts Corporation reported net cash provided by operating activities of $412,000, net cash used by investing activities of $25
    5·1 answer
  • Which of the following is true?
    8·2 answers
  • Capital refers to a person's assets<br> True or False
    5·1 answer
  • John has two hours before having to go to his part-time job. He is deciding between studying for a math exam and taking a nap. I
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!