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3 years ago

What must profit-seeking entrepreneurs do in order to be successful?

1 answer:

8 0

To put it simply, they have to develop a product that make people want to pay to acquire it.

Sellable product usually either :
- able to make people happy ( such as movies, music, Delicious food, etc) or
- Able to make people's life become easier ( such as Gadgets, consultation service, etc)

You might be interested in

Why do you think banks and companies want to know if you have opened up any new credit accounts recently?

svetlana [45]

Idk lol, look on quizlet

5 0

3 years ago

Beranek Corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. The new CFO wants to employ en

Andrej [43]

Answer:

Beranek Corp. should borrow $288,000 to achieve the target debt ratio.

Explanation:

40% of debt-to-asset ratio means that 40% of the assets should be Financed with debt and the remaining with equity. We have $720,000 worth of assets, simply multiply it with 40% and you will get the amount the needs to be borrowed.

If you have any queries about double entries of all this scenario, do leave a comment, I'll be pleased to help you.

Thank you!

4 0

3 years ago

Laflin Company reported the following year-end information: Beginning work in process inventory$1,080,000 Beginning raw material

melomori [17]

Answer:

b. $2,580,000

Explanation:

The formula and the computation of the cost of goods manufactured is shown below:

= Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work-in-process inventory - ending work-in-process inventory

= $780,000 + $900,000 + $720,000 + $1,080,000 - $900,000

= $2,580,000

The direct material used is

= Beginning raw material inventory + purchase made - ending raw material inventory

= $300,000 + $960,000 - $480,000

= $780,000

3 0

3 years ago

You need a 35-year, fixed-rate mortgage to buy a new home for $260,000. Your mortgage bank will lend you the money at an APR of

nexus9112 [7]

Answer:

$345,050

Explanation:

An annual percentage rate (APR) is the annual rate that is paid on amount borrowed or received from an investment. It is usually stated as a percentage which indicates the annual cost of funds over the term of a loan.

From the question we have:

Mortgage loan amount = $260,000

Monthly repayment amount affordable = $1,000

ARR = 5.55%

Monthly ARR = 5.55% ÷ 12 = 0.4625%

Mortgage loan tenure in years = 35

Mortgage Loan tenure in months = 35 × 12 = 420

ARR amount payable monthly = Mortgage Loan × Monthly ARR

= $260,000 × 0.4625%

= $1,202.50

Total ARR amount payable = ARR amount payable monthly × Mortgage Loan tenure in months

Total ARR amount payable = $1,202.50 × 420

= $505,050.00

Total mortgage loan to repay after 35 years = Mortgage loan amount + Total ARR amount payable

Total mortgage loan to repay after 420 months = $260,000 + $505,050

= $765,050

Total repayment amount affordable = Monthly repayment amount affordable × Mortgage Loan tenure in months

Total repayment amount affordable = $1,000 × 420

= $420,000

Balloon payment after 420 months = Total mortgage loan to repay after 420 months - Total repayment amount affordable

Balloon payment after 420 months = $765,050 - $420,000

= $345,050

Therefore, the balloon payment have to be as large as $345,050 to keep monthly payments at $1,000.

7 0

3 years ago

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. She might want to open a

Morgarella [4.7K]

Answer:

b) bed and breakfast.

Explanation:

A bed and breakfast is actually a type of lodging which offers overnight accommodation and breakfast for its customers. They are not usually a public establishment and do not require much rooms as they typically have about four to six rooms.

Therefore, because Cynthia is a hospitality worker that works in the lodging industry, and also likes to cater to a small group of people, she would likely open a bed and breakfast.

6 0

3 years ago