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AnnyKZ [126]
2 years ago
12

Situation 22-4 Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $200,000 in total revenues and paid $1

25,000 to his employees and suppliers. During the course of the year, he received three offers to work for other barbers, with the highest offer being $50,000 per year. Refer to Situation 22-4. What are Joe's economic profits
Business
1 answer:
prisoha [69]2 years ago
4 0

Answer:

Economic profit= $25,000

Explanation:

Giving the following information:

Last year he earned $200,000 in total revenues and paid $125,000 to his employees and suppliers.

Job offer= $50,000 per year

The economic profit takes into account the opportunity cost of other options.

Economic profit= 200,000 - 125,000 - 50,000

Economic profit= $25,000

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Difference between luna and sol?​
mr Goodwill [35]
Luna-moon
Sol- sun

The difference of luna and sol would be that the moon (luna) comes out in the night and the sun (sol) comes out during the day


Hope this helps!!!!!!!
5 0
3 years ago
How might a technology company like apple ensure that it behaves in a socially responsible way toward its customers? by protecti
Serhud [2]

The correct answer is the first option. By protecting the privacy of personal information collected on its website a company like apple would be behaving in a socially responsible way towards its customers. Technology companies like apple have a responsibility to protect the personal information of its customers, if this wasn't the case then people would not buy their products as they would not have any faith in the company.

7 0
3 years ago
Read 2 more answers
XYZ Corporation loaned $600,000 to another corporation on December 1, 2020 and received a 3-month, 8% interest-bearing note with
jeka94

Answer:

Dr Interest Receivable 4,000

Cr Interest Revenue 4,000

Explanation:

Preparation of XYZ Corporation Adjusting entry

Since the XYZ Corporation loaned the amount of $600,000 to another corporation on December 1, 2020 in which XYZ Corporation received a 3 month and 8% interest-bearing note with a face value of $600,000, the first step to take is to find the interest bearing note which is calculated as 4,000(1/12×8%×600,000) and the second step is to record the transaction as :

Dr Interest Receivable 4,000

Cr Interest Revenue 4,000

(1/12×8%×600,000)

8 0
3 years ago
Bread Co. commenced operations during the year as a large importer and exporter of baked goods. The imports were all from one co
storchak [24]

Answer: c. $300,000

Explanation:

Here, the shipping costs from overseas is part in inventory costs whereas the shipping costs to export are part of expense not inventory.

Given: Purchases during the year  $15.0 million

Shipping costs from overseas$1.5 million

Shipping costs to export customers$1.0 million

Inventory at year end $3.0 million

Amount of shipping costs should be included in ABC Trading's year-end inventory valuation = (Inventory at year end)÷(Purchases during the year ) × (Shipping costs from overseas)

= ($3,000,000) ÷ ($15,000,000) × ($1,500,000)

= $300,000

Hence, the correct option is c. $300,000.

3 0
2 years ago
In the event of excess supply in the coffee market __________. options: the price of coffee will increase the price of coffee wi
Vinil7 [7]

Answer:

the price of coffee will decrease

Explanation:

the price of coffee will decrease because the demand of coffee is clearly greater than the supply, hence in order to reach the point of equilibrium again (a point where demand equals supply), the price is to decrease

6 0
3 years ago
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