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Vaselesa [24]
3 years ago
14

Pam runs a shoeshine stand at the airport. Pam has no skills, no job expereince, and no alternative employment. Entrepreneurs in

the shoeshine stand business earn $20,000 a year. Pam pays the rent of $2,500 a year, and her total revenue is $16,000 a year. She borrowed $700 at 15 percent a year to buy equipment. At the end of one year, Pam was offered $500 for her business and all its equipment.
Pam's explicit and implicit costs are ___ $
Business
1 answer:
xxMikexx [17]3 years ago
7 0

Answer:.

Explanation:

You might be interested in
Income statement _______ Click on an event in any transaction report b. Balance sheet _______ Click an account on any report c.
goblinko [34]

Answer and Explanation:

a Income statement = Reports revenues and expenses

The income statement only records the revenues earned and expenses incurred

b Balance sheet = Reports Assets, liabilities and Equities

The balance sheet records the 3 items i.e assets, liabilities and stockholder equity

With the help of the accounting equation, the balance sheet should be matched

c Statement of Cash flows = Includes operating, Investing & Financing

The cash flow statement consist of operating activities, investing activities, and financing activities. It records only cash payments and cash receipts transactions

d AR Aging Report= Reflects unpaid invoices for current period

It shows the invoices which are not paid

e AP Aging Report  = Reflect unpaid bills for current period

It shows the bills which are not paid

f Inventory valuation report = Reports Inventory Quantities on hand

It shows the quantities of inventory remains on till date

g Profit and loss report = Another name for Income statement

The other name of income statement is profit and loss account or report

h To view a transaction report = Click an account on any report

For seeing the transaction report we have to just click on any report

i To view a source document = Click on an event in any transaction report

For seeing the source document we have to just click on the event of any transaction report

j % of income check box = Click to add a new column in a report

For percentage of income check box we need to add a new column in a report

4 0
2 years ago
A best-seller novel sells for $28 in hardback edition and $12 in a paperback edition. a book store's sales of both editions tota
Mekhanik [1.2K]
The number of each type of book is what is unknown, so we can represent those quantities with variables. Let x = the number of hardbacks and y = the number of paperbacks. Then we know that: x + y = 65 (the total number of books sold) We also know the total cost of both editions, which is $1356. It can be written algebraically as: 28x + 12y = 1356 We now have a system of two equations, which can be solved by substitution. It would be easier to solve the first equation for either x or y and substitute that into the second equation. 
6 0
3 years ago
The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2017, that includ
Aleks04 [339]

Answer:

The Journal entry at the beginning of the year is as follows:

Estimated revenue A/c                      Dr. $1,342,500

Estimated other financing sources-Bonds proceeds A/c Dr. $595,000

To Appropriations control                                                                     $960,000

To Appropriations-Other financing uses-operating transfer outs     $532,500

To Budgetary fund Bal.                                                                        $445,000

(To record entry at the beginning of the year)

8 0
2 years ago
On January 2, 2019, Adelphi Company purchased a patent for $235,000 plus
Ymorist [56]

Answer:

The annual amortization expense for 2019 will be $35000.

Explanation:

The amortization expense for the patent calculated based on the useful life of patent. The purchase of value of $235000 plus $10000 gives the total value of $245000 while use the patent of 7 years.

The formula for amortization expense = (Cost of patent - Residual value ) / Useful life of patent)

amortization expense = ($245000-0)/7 = $35000

The legal life would not count due patent in business use for limited life compare to legal life of patent.

4 0
3 years ago
What happens if only income increases
lidiya [134]

Answer:

too crowded. better to be happy alones at homes with computers. unless you got a big home with a lot of rooms and can still be alones

7 0
3 years ago
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