1. Find a good business idea
A good business idea isn’t just one that turns a profit. It’s one that’s a good fit for you personally, for your target market, and for your location. You’re going to be in business for the long haul, so you really should pick something you can live and breathe.
<span><span>Identify your strengths and weaknesses <span>Conduct a SWOT analysis<span> on yourself </span></span></span><span><span>Come up with a business idea </span>that caters to your strengths </span><span><span>How to start inventing things </span>(or how to find something to invent)</span>Define what success looks like for you <span><span>Do your research: </span><span>What are popular businesses today?</span></span></span>
Answer: $1268.20
Explanation:
value of the bond today = Present value of coupon (interest) payments + present value of principal = 120[PVOAIF8%, 10] + 1000[PVIF8%, 10] =1,268
Answer:
Product Selling price Unit variable cost
$ $
Trunk switch 60 28
Gas door switch 75 33
Glove box light <u>40</u> <u> 22</u>
<u> 175 </u> <u> 83</u>
Composite contribution margin
= Composite selling price - Composite unit variable cost
= $175 - $83
= $92
Composite contribution margin ratio
= <u>Composite contribution margin</u>
Composite selling price
= <u>$92</u>
$175
= 0.525714285
Composite break-even point in dollars
= <u>Fixed cost</u>
Composite contribution margin ratio
=<u> $18,840</u>
0.525714285
= $35,837
Explanation:
In this case, there is need to add all the selling prices to obtain composite selling price. We also need to add all the unit variable costs to derive composite unit variable cost.
Composite contribution equals composite selling price minus composite unit variable cost.
Composite contribution margin ratio is the ratio of composite contribution to composite selling price.
Composite break-even point in dollars equal fixed cost divided by composite contribution margin ratio.
Answer:
Dr goodwill impairment $34200
Cr goodwill $34200
Explanation:
The fact that the fair value of Blossom’s net identifiable assets is less than the carrying value is a strong indication that the goodwill has been impaired and the impairment is computed thus:
Goodwill impairment=Fair value of net assets-carrying value
fair value of net assets=$820,800
Carrying value of net assets=$855,000
goodwill impairment=$855,000-$820,800=$34200
The double entries would be a debit to goodwill impairment loss account in the statement of profit or loss and a credit to goodwill.