Answer:
$90,000; $90,000
Explanation:
Given that,
At the end of the first year,
Total revenues of the books = $180,000
Total explicit costs = $90,000
Here, we assume that there is no opportunity cost of doing this business, Total implicit costs = $0
Explicit costs refers to the costs that are incurred for running the business such as rent, labor, ink, utilities, taxes, and miscellaneous supplies.
Economic profit is determined by deducting explicit costs and implicit costs from the total revenue. Implicit costs are the opportunity costs.
Total cost of doing business during the first year:
= Explicit costs + Implicit costs
= $90,000 + $0
= $90,000
Economic profit:
= Total revenues - Explicit costs - Implicit costs
= $180,000 - $90,000 - $0
= $90,000
Answer:
See below
Explanation:
First we will compute the ending retained earnings
= Beginning retained earnings $4,615 + Revenue $7,010 - Dividends $500
= $11,125
Then , the total assets of EEE corp. would be
= Capital contributed $820 + Retained earnings $11,125 + liabilities at year end $5,225
= $17,170
Answer:
Complex
Explanation:
An organizational structure can be defined as the process which typically involves dividing an organization into various functional units.
A matrix organizational structure is a type work structure where reporting relationships between employees are set up as a matrix rather than the conventional hierarchy approach.
This ultimately implies that, there are two (2) chains of command; employees have dual reporting relationships to both a project and functional manager.
Basically, the matrix organizational structure can be classified into three (3) categories, these are;
1. Weak matrix structure.
2. Balanced matrix structure.
3. Strong matrix structure.
One of the frequent complaint about a matrix organizational structure is that the exchange or dissemination of informations (communications) are complex because there exist a dual reporting relationships.
Answer:
1. False.
2. False.
3. True.
4. False.
5. False.
6. True.
7. Computer support specialist.
8. True.
Explanation:
1. Employers generally restrict or monitor the Internet activity of their employees because the increased use raises the company's ISP rates significantly: False because it is considered unethical under certain employee rights.
2. Although unethical, there are currently no laws in the U.S. for actions such as hacking and sharing copyrighted material: False because there is a computer fraud and abuse act in existence.
3. Employees who engage in telecommuting may find themselves working more hours, especially if their supervisor feels as if they are always "on the clock.": True
4. Most experts recommend that companies monitor their employees secretly in order to prevent workers from circumventing the technologies used to track them: False because it is not ethical and violates the fundamental rights of the employees.
5. Copyright protection lasts 20 years after the date of publication or release: False because a copyright protection is 95 years from date of publication or release and 120 years from creation.
6. A web developer creates and maintains websites for organizations: True
7. A computer support specialist excels when it comes to installing, configuring, and supporting computer systems.
8. Creative works such as books, songs, and photographs are protected by copyright law: True
Answer:
See below.
Explanation:
Journal entries to record the transaction are as follows,
Debit Computer account with $3,432
Debit Accumulated depreciation account with $18,720
Credit Truck account with $20,800
Credit Cash Account with $520
Credit profit on sale of asset with $832
This the journal entry that balances the books by targeting appropriate accounts.
Note that accumulated depreciation account has a credit balance as it is an asset reducing account.
Hope that helps.
