Q1: Walter used to work as a high school teacher for $40,000 per year but quit...
Q1: Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000. Walter asked Tyler the accountant and Greg the economist to calculate his painting business’s costs.
Taylor says his costs are.........
Greg says his costs are..........
Show your calculations for both.
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Q1: Walter used to work as a high school teacher for $40,000 per
year but quit...
Dolores used to work as a high school teacher for $55,000 per year but quit in...
Dolores used to work as a high school teacher for $55,000 per year but quit in order to start her own catering business. To buy the necessary equipment, she withdrew $30,000 from her savings (which paid 2 percent interest per year) and borrowed $30,000 from her uncle, to whom she pays 3 percent interest per year. Last year she paid $25,000 for ingredients and had revenue of $75,000. She asked Louis, an accountant, and Greg, an economist, to calculate her...
3. Charlene, a chemist, worked in a chemistry lab and earned $60,000 per year. Charlene quit...
3. Charlene, a chemist, worked in a chemistry lab and earned $60,000 per year. Charlene quit in order to start her own business. To buy the necessary equipment, she withdrew $50,000 from her savings, (which paid two percent interest per year) and borrowed $60,000 from her Aunt Bea, whom she pays five percent interest per year. Last year she paid $48,000 for ingredients and paid all of the interest on the loan from her aunt. She had revenue of $124,000....
17. To complete your last year in business school and then go through law school, you will need 12,000 TL per year f...
17. To complete your last year in business school and then go through law school, you will need 12,000 TL per year for 4 years, starting next year (that is, you will need to withdraw the first 12,000 TL one year from today). Your rich uncle offers to put you through school, and he will deposit in a bank paying 8 percent interest a sum of money that is sufficient to provide the four payments of 12,000 TL each. His...
To complete your last year in business school and go through law school, you will need...
To complete your last year in business school and go through law school, you will need $18,000 per year for 4 years, starting next year (that is, you will need to withdraw $18,000 one year from today). Your rich uncle offers to put you through school, and he will deposit in a bank time deposit paying 5 percent interest a sum of money that is sufficient to provide the four payments of $18,000 each. His deposit will be made today....
2. Calculating costs Yvette is working for an advertising firm making $50,000 per year but considers...
2. Calculating costs Yvette is working for an advertising firm making $50,000 per year but considers starting her own advertising company. Yvette has determined that to launch the business, she needs to invest $80,000 of her own funds. The annual cost of running the business will include $75,000 for the rent of the office space, $190,000 for employee wages, and $6,000 for materials and utilities. Yvette plans to manage the business, which means that she will have to quit her...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of $150,000, on which he is eaming 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business In the first year, Zippy's Speedy Car Repair cars revenues of $250,000 and has explicit costs of $150,000 Zippy's economic profit (or loss) in the first year is $ (Round your answer to the nearest dolor.)
please answer all 4 please! thank you! Alex quit his job at State University where he...
please answer all 4 please! thank you!
Alex quit his job at State University where he earned S45,000 a year to start extreme gaming software business. To start the business, he cashed in $100,000 in bonds that was earning him 10 percent interest annually to buy equipment. His forgone entrepreneurial income was $5,000 a year. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit, S55 goes for the...
4 questions MICROECONOMICS ECONOMIC VS. ACCOUNTING PROFITS - HOMEWORK BSE 2212 2) Chapter 9 #1. Gomez...
4
questions
MICROECONOMICS ECONOMIC VS. ACCOUNTING PROFITS - HOMEWORK BSE 2212 2) Chapter 9 #1. Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn him $4,000 per year if has been offered $15,000 per year to work as a potter for...
On December 31, 2015, Dr. Alan Brisco, a self-employed engineering consultant, is evaluating his first year...
On December 31, 2015, Dr. Alan Brisco, a self-employed engineering consultant, is evaluating his first year in business. During the year, he billed $500,000 for his consulting services. He had two employees: a scheduler/coordinator and an assistant. In addition to his monthly salary of $10,000, Dr. Brisco paid annual salaries of $35,000 and $46,000 to the scheduler and an assistant, respectively. Employment taxes and benefit costs for Dr. Brisco and his employees were 20% of salaries. Expenses for office supplies,...
At the beginning of the year, a high school football coach decided to leave his job...
At the beginning of the year, a high school football coach decided to leave his job and give up his annual coaching salary of $55,000 and open his own sporting goods store. A partial income statement for follows: 3. Revenues Revenue from sales of goods and services Operating costs and expenses: .... $210,000 Cost of products and services sold Selling expenses Administrative expenses Total operating costs and expenses Income from operations Interest expense (bank loan) Non-recurring expenses to start business....
17. To complete your last year in business school and then go through law school, you will need 12,000 TL per year for 4 years, starting next year (that is, you will need to withdraw the first 12,000 TL one year from today). Your rich uncle offers to put you through school, and he will deposit in a bank paying 8 percent interest a sum of money that is sufficient to provide the four payments of 12,000 TL each. His...
2. Calculating costs Yvette is working for an advertising firm making $50,000 per year but considers starting her own advertising company. Yvette has determined that to launch the business, she needs to invest $80,000 of her own funds. The annual cost of running the business will include $75,000 for the rent of the office space, $190,000 for employee wages, and $6,000 for materials and utilities. Yvette plans to manage the business, which means that she will have to quit her...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of $150,000, on which he is eaming 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business In the first year, Zippy's Speedy Car Repair cars revenues of $250,000 and has explicit costs of $150,000 Zippy's economic profit (or loss) in the first year is $ (Round your answer to the nearest dolor.)
please answer all 4 please! thank you!
Alex quit his job at State University where he earned S45,000 a year to start extreme gaming software business. To start the business, he cashed in $100,000 in bonds that was earning him 10 percent interest annually to buy equipment. His forgone entrepreneurial income was $5,000 a year. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit, S55 goes for the...
4
questions
MICROECONOMICS ECONOMIC VS. ACCOUNTING PROFITS - HOMEWORK BSE 2212 2) Chapter 9 #1. Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn him $4,000 per year if has been offered $15,000 per year to work as a potter for...
At the beginning of the year, a high school football coach decided to leave his job and give up his annual coaching salary of $55,000 and open his own sporting goods store. A partial income statement for follows: 3. Revenues Revenue from sales of goods and services Operating costs and expenses: .... $210,000 Cost of products and services sold Selling expenses Administrative expenses Total operating costs and expenses Income from operations Interest expense (bank loan) Non-recurring expenses to start business....
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