Jay is the owner of the business Jay's Supplies and wants to buy a motor vehicle. He has a friend named Kyle who works at Cars R Us and offers Jay a motor vehicle worth
$30,000 for $20,000. Jay decides to buy the motor vehicle to be used in the business
with a bank loan and has an invoice issued.
Jay's Supplies also hasn't been performing well this year and therefore Jay wants to use
a trading period of 2 years for accounting purposes to make the performance look
better.
Answer the following questions using applicable accounting conventions to support your
answers where appropriate;
a) At what price must Jay record the motor vehicle for and why?
b) Can Jay use a 2 year trading period and why/why not?
c) How many accounts are affected in this transaction? Why and what are they?
d) Prove that equality of the accounting equation is maintained.​

Why there has to be two lines in a plane

Melissa buys an iphone for $240 and gets consumer surplus of $160. a. what is her willingness to pay? b. if she had bought the iphone on sale for $180, what would her consumer surplus have been?

The law firm of furlan and benson accumulates costs associated with individual cases, using a job order cost system. the following transactions occurred during july: jul. 3 charged 175 hours of professional (lawyer) time to the obsidian co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10 reimbursed travel costs to employees for depositions related to the obsidian case, $12,500. 14 charged 260 hours of professional time for the obsidian trial at a rate of $185 per hour. 18 received invoice from consultants wadsley and harden for $30,000 for expert testimony related to the obsidian trial. 27 applied office overhead at a rate of $62 per professional hour charged to the obsidian case. 31 paid administrative and support salaries of $28,500 for the month. 31 used office supplies for the month, $4,000. 31 paid professional salaries of $74,350 for the month. 31 billed obsidian $172,500 for successful defense of the case. required: a. provide the journal entries for each of these transactions. refer to the chart of accounts for exact wording of account titles. b. how much office overhead is over- or underapplied? c. determine the gross profit on the obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.